«Kazakhstan (‘BBB’/ Stable) is the only emerging European sovereign on the positive outlook, while Hungary (‘BB +’) and Croatia (‘BBB-’) are on a negative outlook», according to information posted on the agency’s website.

Kazakhstan, which has a long-term issuer default rating at ‘BBB’/stable is the only emerging European sovereign on positive outlook, KazTAG reported. Fitch Ratings noted in its recently published global Sovereign Review and Outlook that «the Eurozone sovereign debt crisis is affecting the outlook for emerging Europe to a greater degree than other emerging markets, reflecting the region’s close trade, investment and financial linkages with the Eurozone», according to the source. However, in general, the agency believes that the situation in the region is much better than it was in 2008-2009, in terms of its ability to withstand external shocks.
 

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