S&P Georgia view positive

Standard & Poor's said it affirmed the B+ long-term and B short-term sovereign credit ratings on the government of Georgia and the BB transfer and convertibility assessment.

The outlook remains positive, based on the normalization of the political environment, continued strong economic growth and ongoing progress on the government's reform program, the agency said.

Georgia's strong economic performance, which has been fuelled by robust foreign direct investment inflows, is expected to be maintained, S&P said. The government's reform program and the perception of a more consensual approach to policy-making following the presidential elections in January 2008 could further support investor confidence, the agency added.

Ratings are constrained by a narrow economic structure, external imbalances and political risks, the agency added.

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