Moody's improves Georgia’s rating
Moody's Investors Service international rating agency has revised and improved the outlook on the sovereign rating of Georgia from "stable" to "positive", says Georgia's Ecenomy Ministry reported on August 25. The rating is affirmed at "Ba3".
The main factor for the change of forecasts was the expected September entry into force of the EU-Georgia Association Agreement including a Deep and Comprehensive Free Trade Area.
Moody's forecasts the agreement will ensure the inflow of foreign investments in Georgia and improve the indexes of its exports. Also, the rating agency notes that Georgia improved its position in the ranking of the World Bank's fostering of business
On July 18, the Georgian Parliament ratified the association agreement with the European Union signed on June 27. The majority points of the document including on deep and comprehensive free trade area (DCFTA) will enter into force on September 1, 2014.