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Weekly Lists
June 21, 2019 www.intellinews.com I Page 27
bne:Credit Fitch gives North
Macedonia first rating upgrade in 13 years
Fitch Ratings upgraded North Macedonia's long-term foreign and local-currency ratings (IDRs) to 'BB+' from 'BB' with stable outlook on June 14.
This is the first time in 13 years that Fitch has upgraded the rat- ing of the country, known as Macedonia until it was renamed North Macedonia under the name deal with Greece in order to solve the long-standing dispute between the two neighbours.
Fitch praised improved governance standards and reforms in the country saying that this provides greater reassurance that North Macedonia “will not revert to the political paralysis of 2014-2017.”
Fitch forecasts that North Macedonia’s GDP growth will accelerate to 3.4% in 2019 and 3.6% in 2020, from 2.7% in 2018 and just 0.2% in 2017.
Turkey’s central bank has decided to fund primary dealers of the government’s domestic debt securities via overnight repo transactions at 100bp below its main policy rate of 24%, the national lender said on June 17 in a written announcement.
The liquidity facility within the framework of open market operations is aimed at supporting the primary dealership system in view of its contributions to the deepening of financial markets and the effectiveness of monetary policy, the statement added.
“The limits for the Primary Dealer liquidity facility will be deter- mined taking into account the amount of Government Domestic Debt Securities purchased by Primary Dealer banks through the Treasury auctions, and this facility will have a limited share within the overall Central Bank funding,” the statement also said.
Slovenia’s SID Bank has placed a seven-year bond issue worth €200mn on the international capital market, the bank said in a bourse filing on June 18.
The bank operates as a promotional development and export bank in Slovenia and internationally. The funds raised from the bond is- sue will be used to support the competitiveness of Slovenian com- panies and the country’s sustainable development.
The corporate papers issued by SID Bank will mature on June 24, 2026. They bear a fixed coupon rate of 0.125% with a yield of up to 0.18%, the bank said.
Turkish central bank to fund primary dealers of government domestic debt at 23%
Slovenia’s SID Bank places €200mn 7-year bond issue on international market