The international credit rating agency Fitch Ratings has affirmed Turkmenistan’s Long-Term Issuer Default Ratings (IDRs) at ‘BB-’ with a Stable Outlook. The country’s ratings reflect its strong public finances, high level of net foreign assets and low level of public debt relative to other countries with ‘BB’ and ‘B’ ratings, Fitch Ratings reported.

The short-term IDRs in both currencies have been maintained at ‘B’, with a Country Ceiling of ‘BB-’.

The report also highlights Turkmenistan’s significant gas potential, as the country holds the world’s fourth-largest natural gas reserves.