International Investor Service Moody's has changed the outlook within the credit rating of Bosnia and Herzegovina. 

Moody's kept the credit rating of Bosnia and Herzegovina, B2, but has changed outlook from stable to negative, mentioning political stalemate and related delays in economic and constitutional reforms as reasons.

Moody's mentioned that negative outlook of credit rating was mostly caused by political stalemate and fact that the state level government has not been established more than seven months after the general elections in October last year, and that related delays in economic and constitutional reforms are impeding Bosnia and Herzegovina's chances to earn European Union (EU) candidate status.

The changes in outlook could cause downgrade the rating over the next 12 - 18 months if, according to the assessments of analysts of the Moody's, certain improvements are not made.

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