Moody's confirms Czech A1 rating
Moody's Investors Service rating agency has renewed the Czech Republic's A1 rating on Friday. The agency gave the country a stable economic outlook thanks to the significant stabilization of the tax system and the limited negative effects of the debt crisis of the Eurozone on the country's economy. The Czech Republic has held the A1rating from Moody's since 2002. According to the agency, Prague has proven that it is determined to take drastic measures in order to lower the deficit, which has been a key factor in maintaining trust in its fiscal policies and creating financing reserves before the recent change of cabinet.