Moody's improves rating of Georgia from "stable" to "positive"
Tbilisi, Georgia, Aug.25
By Nana Kirtzkhalia - Trend:
Moody's Investors Service international rating agency has revised and improved the outlook on the sovereign rating of Georgia from "stable" to "positive", says the Ministry of Economy of Georgia on Aug. 25. The rating is affirmed at "Ba3".
The main factor for the change of forecasts was the expected September entry into force of the EU-Georgia Association Agreement including a Deep and Comprehensive Free Trade Area.
Moody's forecasts the agreement will ensure the inflow of foreign investments in Georgia and improve the indexes of its exports. Also, the rating agency notes that Georgia improved its position in the ranking of the World Bank's fostering of business