Serbia Downgraded To BB- By Fitch; Market Unsurprised

Serbia’s credit was downgraded by the ratings company Fitch “due to fiscal slippage and sluggish growth, reports Gordana Filipovic for Bloomberg.

Serbia’s national debt is currently 63% of its GDP, but that is expected to increase to 70% by 2015, while GDP growth is expected to stay below 2% per year. Fitch gave Serbia a B+ credit rating, down from . . .

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