S&P to review Slovakia’s rating

Not very much is going on after Easter in the region. In several CEE countries, labor market data will be released, such as the unemployment rate (Slovakia, Poland, Croatia and Hungary) and wage growth (Poland, Croatia and Serbia). Apart from that, Poland will publish data on the performance of retail and the industry sector in March. The highlight of the week will be Slovakia’s review by S&P, which currently rates the country two notches above Moody’s and Fitch Ratings. We see a somewhat elevated likelihood of a negative outlook, while a downgrade scenario appears unlikely, though it cannot be entirely ruled out.