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Favourable
credit
rating
for
Macedonia
Macedonian
Information
Agency
(Aug
03,
2004,
6:37:25
PM
(GMT+01:00)) (MIA) -
Macedonia
got
positive
grades
in
the
first
international
credit
rating
report
made
since
its
independence,
MIA's
correspondent
from
London
reported.
Respectable
house
for
defining
and
monitoring
the
credit
rating
Standard
&
Poor's
gave
BB/positive
grade
to
Macedonia,
out
of
a
total
of
four
main
and
sub-ranks
marked
from
A
to
D.
Macedonia's
rating
is
considered
as
very
good,
considering
the
fact
that
the
country
has
no
rating
up
to
date.
Macedonia's
credit
rating
is
at
the
some
time
a
kind
of
an
identity
card
that
all
foreign
business
or
financial
partners
will
like
to
see
before
making
a
deal
with
the
country
or
its
companies.
It
is
also
very
significant
for
attracting
foreign
investments
and
for
brining
Macedonia
closer
to
the
European
Union.
Macedonia's
rating
is
based
on
the
significant
progress
in
the
country's
political
stability
as
a
result
of
Ohrid
peace
agreement
and
perspectives
for
the
EU
membership,
as
well
as
to
the
macroeconomic
stability
and
controlled
level
of
foreign
indebtedness,
the
Standard
&
Poor's
report
reads.
The
interethnic
relations
keep
playing
significant
role
in
the
political
stability,
but
the
international
community
engagement
in
the
country's
stabilization
will
prevent
any
possibility
for
new
tensions.
On
the
other
hand,
poor
management
of
the
private
and
public
sector,
corruption
and
inefficient
judiciary
system
are
depressing
factors
for
both
local
and
foreign
investors,
hindering
the
economic
growth
and
opening
of
new
jobs.
©
2000
MIA
-
Macedonian
Information
Agency.
All
Rights
Reserved.
This
material
may
not
be
published,
broadcast,
rewritten
or
redistributed
in
any
form
except
with
the
prior
express
permission
of
Macedonian
Information
Agency.
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