Long-term sovereign credit rating for countries in the region The international credit rating agencies rate ability of countries to timely repay its obligations and on the basis that they determine debt servicing ratings in both local currency and in foreign currency. Table 1 shows the long-term foreign currency debt servicing ratings and the respective outlooks for the countries in the region which hired either one or both agencies (also hired by Bosnia and Herzegovina). This table effectively facilitates comparison and determination of our position relevant to countries in the wider region. Table 1: Review of long-term sovereign credit rating for countries in the region CountryMoody's Investors ServiceStandard & Poor's Long-term / OutlookLong-term / Outlook Albania B1 / stable B+/ stable Bosnia and Herzegovina B3 / stable B / positive Bulgaria Baa2 / positive BBB / positive Montenegro B1 / positive B+ / stable Greece B1 / stable BB- / positive Croatia Ba2 / positive BBB- / stable Hungary Baa3 / stable BBB / stable North Macedonia - BB- / stable Romania Baa3 / stable BBB- / negative Slovenia Baa1 / positive AA- / stable Serbia Ba3 / positive BB+ / positive Source: Bloomberg, data updated on December 17, 2019