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Moody’s raises Czech credit rating for first time in 17 years

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Moody’s has raised the Czech Republic’s credit rating by one level. It cited the country’s strong budget performance and low debt as the main reasons for its first upgrade since 2002. The agency raised the Czech long-term foreign debt rating from A1 to Aa3, which is the fourth highest investment grade under its system. Earlier this year Moody’s Investors Service amended the outlook for the Czech Republic from stable to positive.

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