Fitch: Georgia view positive

Fitch Ratings said it revised the outlook on Georgia's long-term foreign- and local-currency issuer default ratings to positive from stable and affirmed them at B+.

The agency also said it affirmed Georgia's short-term issuer default rating at B and country ceiling at BB-.

The positive outlook reflects Georgia's strong economic recovery, a reduction in both the budget and current account deficits, an improvement in the financial sector's health and some easing of political risk, Fitch said.

The Georgian economy is recovering strongly, benefitting from the global economic recovery, large-scale international donor financing and an apparent improvement in trade performance, the agency said.

Political risk appears to have eased somewhat over the past 18 months or so, although Fitch said it still views it as relatively high.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.