On August 31, “Moody's” rating agency has left Armenia sovereign rating “Ba3” unchanged in the framework of awarding another sovereign rating to Armenia and the outlook remains stable. It was highlighted in the article that the country's economic fundamentals, including the economic strength, the country's institutions and governance strength, fiscal and financial strength, including the debt profile have not materially changed, but the country has become increasingly susceptible to event risks.
It should be noted that this is the first review by Moody's rating agency since the outbreak of the COVID-19 epidemic and after the Artsakh war, and according to latter’s observation Armenia’s credit profile is based on the strong potential for GDP growth, accompanied by more diverse economic drivers, stable economic and financial management, which increases the country's economic flexibility and resilience.