The Fitch rating agency on Friday raised the Czech Republic’s foreign currency rating from ‘BBB+’ to ‘A-’. The agency said that the upgrade reflects the country’s ongoing structural reforms toward EU accession, the strengthening of the banking sector, and strong FDI flow (Czech Press Agency).
The upgrade could be perceived as an important factor distinguishing the Czech Republic from Hungary, where the deteriorating macroeconomic situation seems to weigh strongly on the equity market.
Jiří Soustružník