Business News

S&P Does Not Plan Rating Change on Bank Recap

London, 16 December (STA) - Rating agency Standard&Poor's has indicated Slovenia's decision to recapitalise banks will not have a bearing on its sovereign rating, which was affirmed at A- with a stable outlook in July.

The estimate that Slovenian banks need EUR 4.8bn in fresh capital is in line with expectations, the agency said in a statement Friday after stress tests of eight Slovenian banks were released.

Public debt after recapitalisation will be around 71% of GDP in 2014-2016, but Slovenia's contingent liabilities to certain financial institutions will be clearer as guaranteed will become public debt, the agency said.

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