The international rating organization S&P Global Ratings has issued its latest sovereign rating of Armenia, which has remained unchanged at the BB-/B level, informs the Central Bank of Armenia.

The country’s "outlook stable" rating was also maintained.

The ratings on Armenia are constrained by several factors, including “the country's weak yet gradually improving institutional framework, moderate per capita income levels, as well as balance of payments and fiscal vulnerabilities. Additionally, Armenia's exposure to geopolitical risks further constrain the ratings,” S&P Global noted.

“The ratings are supported by Armenia's strong economic growth outlook, moderate government debt, access to external official funding, and a prudent policy framework, which has maintained economic and financial stability despite multiple external shocks,” added the aforesaid international rating organization.