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Oct 16, 2019
Standard & Poor’s upgrades Georgia’s sovereign credit rating to BB
- Standard & Poor’s upgraded Georgia’s long-term credit rating to BB with stable outlook. The rating agency highlighted the resilience of the economy towards the challenging external environment and relatively high growth prospects with 4.5% in 2019 and 4% in 2020-2022.
- According to the agency, the financial sector remains on a relatively stable footing with low levels of non-performing loans. While the dollarization is a challenge, policies to address it are assessed favorably.
- Low level of GDP per capita, relatively narrow base of exports and sizeable external liabilities remain traditional constraints of Georgia’s credit rating.
- The full rating action commentary is available on the following link.