S&P Global Ratings has upgraded Armenia's long-term foreign and local currency sovereign credit rating to 'BB-' from 'B+' with a 'stable' outlook on the back of 'strong economic growth and improved financial position'. The revision of the rating is due to the improvement of Armenia's GDP per capita, real GDP and fiscal indicators, as well as a significant increase in labor and capital flows from the Russian Federation, the report says of the International Rating Agency. S&P expects Armenia's GDP to grow by 7.5% this year.
Return to news page
S&P Global raised the long-term rating of Armenia from "B+" to "BB-" with the stable forecast