New York, December 05, 2013 -- In a report published today, Moody's Investors Service says that Armenia's Ba2 rating with a stable outlook is supported by its prudent fiscal policy track record and by the significant reduction in the current account deficit from its 2010 peak. Conversely, Armenia's credit challenges relate to the economy's small size and its reliance on commodity exports and on remittances. Moreover, Armenia's already high economic and financial exposure to Russia is set to intensify within the Customs Union of Russia, Belarus and Kazakhstan, in contrast to the previously considered EU Deep and Comprehensive Free Trade Area (DCFTA).

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