Kyrgyzstan’s Foreign Currency Credit Rating Upgraded to B+
ACRA Upgrades Kyrgyz Republic’s Credit Rating to B+
Bishkek – On January 15, 2025, the Russian Analytical Credit Rating Agency (ACRA) announced that it has upgraded the long-term foreign currency credit rating of the Kyrgyz Republic to B+ and its long-term local currency credit rating to В+ under the international scale.
The short-term foreign currency credit rating has been affirmed at B, while the short-term local currency credit rating has also been affirmed at B. The outlook on the long-term foreign currency credit rating is stable, along with the local currency credit rating. This stable outlook is expected to remain unchanged within the next 12 to 18 months.
Positive factors contributing to the rating assessment include the moderate public debt and low interest expenses, significant economic growth, stable support from international development institutions, and low shares of the public and quasi-public sectors in the economy.
However, there are negative factors to consider, such as the relatively low economic wealth of the population, strong dependence on factors related to the external sector, low coverage of external debt, and comparatively low assessments of institutional quality and human capital factors.
Overall, the upgraded credit rating reflects the Kyrgyz Republic’s improving economic performance and fiscal discipline, supported by moderate public debt and stable economic growth. It is important for the country to address the negative factors to further enhance its creditworthiness in the international market.
