18 May 2013, 16:27

Slovenia may sue Moody's over rating downgrade timing - premier

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Slovenia might sue Moody's Investors Service because the US ratings agency downgraded its credit rating in the midst of a bond issue, Prime Minister Alenka Bratusek said in an interview published Saturday.

Slovenia would first ask Moody's to explain the timing of the downgrade because "no rating agency can allow itself to do what they did," Bratusek told the daily Vecer.

Moody's downgraded Slovenia's credit rating from Baa2 to the speculative grade of Ba1 as the country opened the sale of dollar-denominated bonds on April 30.

Another major ratings agency, Fitch, on Friday downgraded Slovenia's credit rating to BBB+ from A-.

Voice of Russia, dpa

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