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Fitch confirms Georgia at 'BB' with negative outlook


Fitch confirms Georgia at BB with negative outlook
Fitch says the negative outlook ‘reflects the significant ongoing impact of the coronavirus pandemic on Georgia s economy’. Photo: Nino Alavidze/Agenda.ge
Agenda.ge, 13 Feb 2021 - 14:31, Tbilisi,Georgia
Global Fitch has confirmed Georgia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BB’ with a negative outlook.
Fitch reported yesterday that the country’s ratings are supported by ‘strong structural indicators, such as governance and business environment’, relative to BB category peers. 
It also said that ‘a consistent and credible policy framework underpins Georgia s relative resilience to shocks’. 
These credit strengths are balanced by a high share of foreign-currency denominated government debt, low external liquidity and higher external financing requirements relative to peers”, Fitch reported. ....

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