The Russian Analytical Credit Rating Agency (ACRA) assigned credit ratings to Kyrgyzstan in national and foreign currencies. Website of the organization says.
Kyrgyzstan received:
- Long-term credit rating in foreign currency at B level and in national currency — B;
- Short-term credit rating in foreign currency at B level and in national currency — B.
The outlook for long-term ratings is stable. It assumes with a high degree of probability that they will remain unchanged for 12-18 months.
«Kyrgyzstan’s sovereign credit ratings at B level are the result of a low level of wealth, a high level of dependence on the state of the economies of major trading partners and international development organizations, relatively low indicators of the institutional quality of the public sector, as well as a moderate level of public debt, relatively favorable conditions for external borrowing and a focus on reforms in economic policy,» the statement says.
Sovereign credit rating has been assigned to Kyrgyzstan by Moody’s for the past few years. In January this year, it downgraded the country’s rating from B2 to B3, saying the authorities’ decision to nationalize Central Asia’s largest gold mine last year was an indicator of poor governance and worsening investment climate.
