> Montenegro Economy > S&P: Montenegro’s 2015 credit rating unchanged

S&P: Montenegro’s 2015 credit rating unchanged

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Credit rating agency „Standard and Poor’s“ (S&P) has published new report on Montenegro, which confirms last year’s score „B + / B“. Also, Montenegro’s outlook is stable, which indicates that further trends of its credit rating is based on stable positions. S&P’s experts estimate that that Montenegro’s economy will grow an average of 3.4% over 2015-2018 supported by an increase in investment activity.

The stable outlook of Montenegro reflects view of Montenegro’s balanced risks between sound growth potential on the one hand and a deteriorating path of fiscal metrics on the other, which are expected to remain unchanged over the next 12 months. However, it also reflects that we do not expect the fiscal metrics resulting from the Bar-Boljare highway construction project to deteriorate beyond our expectations, thanks to fiscal consolidation efforts.

Key rating factors

  • Institutional assessment: Neutral
  • Economic assessment: Neutral
  • External assessment: Weakness
  • Fiscal assessment -flexibility and performance: Weakness
  • Fiscal assessment – debt burden: Neutral
  • Monetary assessment: Weakness

Report also praises fiscal measures which Government of Montenegro implements. Entire S&P’s document is enclosed bellow.

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