Slovakia has been given an increased score by credit ratings agency Standard & Poor's (S&P).

The organisation upgraded the eastern European country from an A rating to A+, which it said is because its economy is continuing to improve.

In particular, S&P stated that Slovakia's economy has expanded considerably in recent years, Reuters reports.

The country was also praised for its efforts to diversify after implementing various "business-friendly" reforms.

Commenting on the nation, S&P said: "The upgrade reflects the prospect of continued improvement in Slovakia's competitiveness and potential."

The group added that the country is likely to attract more investment following its accession to the eurozone in January.

Meanwhile, a separate report by Moody's has also given Slovakia a positive appraisal, as it achieved a score of A1.

This was said to be partly due to its "significant economic transformation" in recent years, as well as its increasing amounts of foreign direct investment.