Moody's upgrades Kyrgyzstan's credit rating to B2 as public debt-to-GDP ratio falls

Moody's has raised the sovereign credit rating of the Kyrgyz Republic from B3 to B2, assigning a "Stable" outlook. The upgrade, announced by the Cabinet of Ministers of the Kyrgyz Republic, points to an improvement in the country's overall credit profile and a steady trajectory in key macroeconomic and fiscal indicators. According to the rating agency, the upgrade is underpinned by several structural and financial factors. Moody's highlighted continued economic growth and a move toward economic diversification, alongside an increase in GDP per capita. The agency also noted a trend of large-scale infrastructure investments and an improvement in the state of public finances, specifically citing a decrease in the ratio of public debt to GDP. The agency specifically commended the current fiscal policy, noting its effectiveness in broadening the budget's revenue base and improving the overall efficiency of state financial management.