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D&B: Slovenia's Credit Rating Stable

Ljubljana, 03 June (STA) - Slovenia kept its DB2c low risk rating in June, according to a report by the rating firm Dun&Bradstreet (D&B). The rating was labelled as stable, D&B's Slovenian partner, Bonitetna hisa I said in a press release on Thursday.

D&B noted that Slovenia's cross-border payments performance was improving. According to Bonitetna hisa I, the share of payment default is decreasing within Slovenia as well, but the average delay is still growing.

The contraction of industrial output is somewhat slowing down on the back of February growth, but is still 28.4% bellow its October 2008 peak.

The growing industrial output helped lift imports, which rose by a cumulative 2.3% in the first two months of the year, D&B said.

Import costs are rising faster than export earnings also partly due to the recent rise in world oil prices and the depreciation of euro against US dollar, the rating firm said.

This also contributed to the rise of March inflation by 1.6% compared to February. Producer prices have been rising on the monthly level since the beginning of the year, although they are still 0.2% lower than a year ago.

Domestic demand is still sluggish, while the government measures to boost it will push the costs higher and cause economic profit to sink. Less profit and dearer loans might affect money flows and cause delays in payments, D&B forecasts.

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