Uzbekistan’s sovereign credit rating upgraded

Moody’s has upgraded Uzbekistan’s sovereign credit rating from Ba3 to Ba2 with a “stable” outlook.

The agency states that the rating increase is directly linked to ongoing improvements in the country’s institutional quality and public governance, as well as improved economic and fiscal metrics.

The Ministry of Investment, Industry and Trade of Uzbekistan states that a “stable” outlook suggests that risks to the country’s credit profile are evenly balanced at the Ba2 level.

The decision demonstrates international acknowledgment of the ongoing reforms in the country, despite global financial market uncertainties, highlighting efforts to maintain macroeconomic stability and enhance the investment climate.

A. Rustamov, UzA