Croatia's long-term credit rating was lowered one step to BB+, the highest non-investment level, and its short-term grade also fell one level to B, S&P said today in a statement. The ratings carry a stable outlook, indicating that S&P is more likely to keep them unchanged than cut or raise them.

The information didn't surprised Croatian economists who were were very critical about current government policy. The whole situation could influence Slovenia as one of the major foreign trade partners of Croatia. Slovenia itself is strugguling with internal political blockade which is postponing the urgent measures for stabilisation of banking sector in unknown future.