Fitch highlighted the lowering of public debt and a surplus in public finances as among the reasons for the credit rating upgrade. Slovenia has been the most effective of all eurozone members as regards the reduction of public debt, and plans to decrease it to 65.4% of GDP this year. Moreover, it will record a 0.7% budget surplus, or one of 193.6 million euros, at the end of the year. The rating agency further supported the upgrade by citing Slovenia’s economic growth, good economic relations with other countries, strengthened banking sector and reduced unemployment.

“This is the third upgrade for Slovenia made by rating agencies this year. The April outlook upgrade by Moody’s from stable to positive was followed by S&P’s credit rating upgrade from A+ to AA- in June, and yesterday Slovenia's good economic shape was also confirmed by Fitch," said Finance Minister Andrej Bertoncelj.

Slovenia currently has an AA- rating with a stable outlook from S&P, an A rating with a stable outlook from Fitch, and a Baa1 rating with a positive outlook from Moody's.