Standard & Poor's (S&P) Ratings Services Thursday affirmed its 'BB/B' long- and short-term foreign and local currency sovereign credit ratings on the Republic of Macedonia.

The confirmation of the assessment of the credit rating happens in conditions when S&P downgrades ratings for several countries in the region and Europe as Slovenia, France, Italy, Portugal, Austria, Cyprus, Slovakia and Spain, Finance Ministry said in a press release.

Standard & Poor's affirms the rating on Macedonia based on favourable fiscal policy and low levels of external and fiscal indebtedness and the prospect of eventual accession to the European Union acts as a policy anchor.

This is yet another strong signal for foreign investors that Macedonia is a country in which they have confidence and where they can count on sound economic policies in the future, Finance Ministry said in a press release.