Fitch affirms Serbia's B+ credit rating

Fitch affirms Serbia's B+ credit rating

BELGRADE -- The Fitch Ratings credit rating agency has affirmed Serbia's B+ credit rating, the Public Debt Administration announced on Monday.

Serbia's credit outlook remained stable, the Public Debt Administration said on its website.

In January last year, the agency downgraded Serbia's rating from BB - with negative outlook to B+ with stable outlook.

As the key reasons behind the decision, the agency cited a deficit growth in 2014 and the general public debt condition relative to the level of GDP.

A lack of structural reforms in the previous years was also cited as one of the reasons.