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Dun & Bradstreet: External debt posing an increasingly difficult problem
8.2.2010 14:09:00 | Source/Author PressCut
In its latest International Risk and Payment Review, world’s leading credit rating agency Dun & Bradstreet kept Croatia’s rating at DB3d, which designates a mild business risk, D&B announce don Monday.
No changes were made for other countries either. Slovenia still has the highest rating in the region (DB2c), followed by Hungary (DB3d), Albania (DB4a), Macedonia (DB4b), Serbia (DB5a), and B-H (DB6a).
According to D&B, 24.5 percent of payments by Croatia’s companies to foreign companies were late 30 days or more from the contracted deadlines. 64.2 percent of the payments were done in time, while 9.9 percent were 60 or more days late. 2.7 percent of payments were late 120 days or more. Due to the credit crunch, FX pressures and other circumstances, D&B forecasts that payment to foreign companies will remain a challenge in the coming period. It also underlines that a massive foreign debt increases exposure to external shocks.
(www.banka.hr)
No changes were made for other countries either. Slovenia still has the highest rating in the region (DB2c), followed by Hungary (DB3d), Albania (DB4a), Macedonia (DB4b), Serbia (DB5a), and B-H (DB6a).
According to D&B, 24.5 percent of payments by Croatia’s companies to foreign companies were late 30 days or more from the contracted deadlines. 64.2 percent of the payments were done in time, while 9.9 percent were 60 or more days late. 2.7 percent of payments were late 120 days or more. Due to the credit crunch, FX pressures and other circumstances, D&B forecasts that payment to foreign companies will remain a challenge in the coming period. It also underlines that a massive foreign debt increases exposure to external shocks.
(www.banka.hr)
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