Moody’s affirms Albania’s B1 rating, maintains stable outlook, Global Credit Research, 04 Aug 2017
Moody's affirms Albania's B1 rating, maintains stable outlook, Global Credit Research, 04 Aug 2017 Moody's Investors Service on 04 August 2017 has affirmed the Government of Albania's B1 long-term foreign and local currency issuer ratings and the B1 foreign currency senior unsecured rating. The outlook remains stable. The decision to affirm the ratings and maintain the stable outlook balances the following key rating factors: (1) Progress on fiscal consolidation, structural reforms and institutional capacity building; (2) Structural economic challenges, despite improving growth prospects; and (3) A still high, albeit declining, debt burden with unfavorable structure of domestic debt The government's fiscal deficit narrowed to 1.8% of GDP in 2016 from 5.2% in 2014. Fiscal discipline has been maintained through this electoral cycle and Moody's expects the deficit to decline further…