By Katherine Hamilton
Moody's Ratings upgraded issuer ratings for the Moldova government to B2 from B3, as the country has become less dependent on Russia.
The ratings agency said Friday it upgraded the foreign and domestic-currency long-term issuer ratings because Moldova's institutions and governance appear to be strengthening.
Moldovan authorities have demonstrated an improved capacity to formulate and implement policy, Moody's said.
They have also shown a better ability to respond to shocks, specifically by becoming less dependent on Russia for energy supply following the 2022 invasion of Ukraine.
Overall, those improvements have contributed to a reduction on Moldova's political event risk with more resilience against outside attempts to interfere with elections.
Moody's said Moldova still has a high exposure to Russian hybrid attacks and struggles with weak growth performance relative to its peers.
The agency maintained its stable outlook for Moldova.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
04-03-26 1721ET
