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Fitch: Georgia view positive
Fitch Ratings said it revised the outlook on Georgia's long-term foreign- and local-currency issuer default ratings to positive from stable and affirmed them at B+.
The agency also said it affirmed Georgia's short-term issuer default rating at B and country ceiling at BB-.
The positive outlook reflects Georgia's strong economic recovery, a reduction in both the budget and current account deficits, an improvement in the financial sector's health and some easing of political risk, Fitch said.
The Georgian economy is recovering strongly, benefitting from the global economic recovery, large-scale international donor financing and an apparent improvement in trade performance, the agency said.
Political risk appears to have eased somewhat over the past 18 months or so, although Fitch said it still views it as relatively high.
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