Yerevan, May 11 /Mediamax/. Fitch Ratings Agency informed that from 20 countries of Emerging Europe, which were assigned ratings, only Armenia, Kazakhstan and Ukraine have positive outlook.

Mediamax reports that Fitch Ratings informed on May 10 that the ratings in Emerging Europe have risen further over the past 12 months, with seven foreign currency upgrades.

Only three countries, assigned ratings by Fitch – Armenia, Kazakhstan and Ukraine – have positive outlook, while Hungary and Latvia - negative outlook, the report of Fitch representative Edward Parker reads.

On May 10, the Fitch Agency lowered the outlook of rating change of Turkey from “Positive” to “Stable” to the level of BB- (BB minus).

Political risks continue to weigh on several countries, Parker believes. “Russia and Turkey face both parliamentary and presidential elections over the next 12 months, while Romania, Serbia and Ukraine are mired in political crises”, Parker’s report reads.

He warned that the risks grow in Baltic States – Estonia, Latvia and Lithuania – because of economy overheat and delays in the process of entering the Euro-zone.