Fitch confirms Georgian rating at BB-

Fitch Ratings has confirmed the Georgian rating of default emitter in foreign currency at BB- with a stable forecast, the country ceiling at BB, short-term foreign currency rating at B, priority unsupported debt at BB-.

Fitch predicts an economic growth of Georgian GDP totaling 7% in 2012, 5% in 2013-2014. Budget deficit will total 3% of the GDP in 2013 (3.4% in 2012). The state debt will drop by 30%.

Adapted from Vestnik Kavkaza