Standard & Poor’s rates Georgia as ‘stable’

International rating agency Standard & Poors gave Georgia a long-term credit rating of BB- with the stable outlook. The agency also upheld the short-term credit rating B (stable).

Assigned ratings reflect the opinion of Standard & Poors, that the peaceful change of government will facilitate stabilization of the budget performance and external balance indicator in Georgia.

"We have positively evaluated economic growth perspectives of the country, despite the slower pace of growth, political tensions and uncertain course in 2013, states the press release issued by the Agency.

Moreover, on November 21, another international rating agency Fitch Ratings also granted Georgia similar rankings.