Moody's rates Georgia

Moody's Investors Service said it assigned first-time Ba3/not-prime foreign- and local-currency issuer ratings to the government of Georgia.

The outlook is stable.

The ratings reflects the country's progress in building social, political and economic institutions and providing a healthy operating environment for business that is unique in the region, Moody's said.

The ratings also consider the government's proactive response to the global crisis and the 2008 conflict with Russia, which has addressed the curtailment in foreign direct investment and other capital inflows and maintained affordable debt service, the agency said.

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