International credit rating agency Fitch Ratings announced the impact of the Russia-Ukraine war on the credit rating of emerging European countries.
The rating agency noted that the war has unprecedented impact on ratings in the region.
“One year after the conflict began, the share of Stable sovereign Outlooks in emerging Europe is at its lowest since late 2003, having fallen to just over 36% this month from 70% in end-February 2022,” the agency said.
According to the agency, the sovereign rating of seven countries in emerging Europe remains negative Outlook, as it was during the Covid-19 pandemic.
On North Macedonia (BB+) and Romania (BBB-), negative Outlooks formed before the war. However, negative Outlooks on the Czech Republic (AA-), Estonia (AA-), Hungary (BBB), and Slovakia (A) reflect risks from the energy crisis and fiscal policy caused by the war.—Azer News
