The rating agency "Standard and Poor's" has raised the long-term government rating of Serbia by one level: from non-investment grade "BB+" to investment grade "BBB-", according to last night's announcement carried by the economic news agency "Bloomberg".
At the same time, Serbia's prospects were assessed as stable.
The "BBB" rating, the lowest in the investment category, as explained by "Standard and Poor's", means that "the obligor has adequate capacity to meet its financial obligations. However, it is more likely that unfavorable economic conditions or changing circumstances will lead to a weakened capacity of the obligor to meet them fill in".
The President of Serbia, Aleksandar Vučić, said in a statement that the investment rating that the country received for the first time in its history means that it has "achieved a significant milestone in its economic development."
Vučić predicts that this will lead to lower financing costs, greater access to international capital markets and increased investor confidence, which applies to both the state and domestic companies.
Serbia is the first country in the Western Balkans and the only one that is a candidate for admission to the EU that has an investment rating, he said.
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