The stabilization of oil prices has eased the direct and indirect economic and fiscal pressures on the nine rated sovereigns in the Commonwealth of Independent States (CIS) region. Still, the region’s overall credit outlook for 2017 is negative, driven by subdued economic recovery, external vulnerabilities in those countries with high foreign currency debt and the likelihood that political considerations will delay structural reforms that would bolster potential growth, Moody’s Investors Service said in a report.
In 2016, Moody’s took negative rating actions for five CIS sovereigns after slumping oil prices weighed on the credit profiles of major oil and gas exporters …read more
Source: Public Radio of Armenia
