Moody’s to give credit rating within two months

TIRANA, Feb.12- The Albanian Finance Ministry announced that the International rating agency Moody’s Investors Service has started assessing Albania prior to assigning the first-ever credit rating to the country. The final report from Moody’s is expected in two months, the statement added. Finance minister Ridvan Bode said that “We want our country to be quoted adequately so as to benefit from foreign loans at the lowest interest rates possible.” As far as forecasts on the possible rating are concerned the ministry’s spokeswoman Eva Simoni said that it was too early to get an estimate. The rating is expected to help the country, the only one in the region not yet rated, boost its presence on the international markets. Albania issued its debut Eurobonds worth 45 million euro ($58.3 million) in late December last year. The issue produced a weighted average yield of 5.024%. The proceeds from the bond will finance major infrastructure projects, refinance existing debt and promote Albania on the international capital markets.