NEW YORK, December 30, 2025, 02:50 ET
- ACRA raised Kyrgyzstan’s long-term credit rating to BB- with a stable outlook
- The agency cited a methodology update and changes to its institutional assessments
- The move comes as the country tries to deepen access to external funding
Russia’s Analytical Credit Rating Agency (ACRA) upgraded Kyrgyzstan’s long-term credit rating in both foreign and local currency to BB- and assigned a stable outlook, the agency said on Tuesday.
Sovereign credit ratings are a shorthand many investors and lenders use to assess how likely a country is to meet its debt payments. A higher rating can widen the pool of buyers for a government’s bonds and sometimes ease financing costs.
The timing matters as Kyrgyzstan has been trying to build a track record with international investors after issuing its first $700 million sovereign Eurobond in May, the finance ministry said at the time.
ACRA attributed the upgrade to an updated methodology and revised assessments of the country’s institutional environment, and said the stable outlook implies the new level is likely to hold over the next 12 to 18 months.
A “stable outlook” is a ratings term that signals no near-term change is expected under the agency’s base-case view, unless conditions shift materially.
The BB- level remains below investment grade, the threshold many large funds use to define lower-risk debt. In plain terms, it is still considered speculative-grade credit.
For governments, ratings changes can shape demand at new debt sales and influence the pricing investors seek, but any market impact also depends on global risk appetite and domestic policy signals.
ACRA last upgraded Kyrgyzstan’s long-term foreign-currency rating to B+ earlier this year, according to Kyrgyz news agency 24.kg.
Investors typically focus on fiscal performance, foreign-exchange buffers and political stability when weighing whether an upgrade will translate into sustained demand.
Kyrgyzstan’s authorities have sought to broaden financing options as spending needs rise and external funding conditions remain volatile for frontier sovereigns.
ACRA did not signal further changes beyond the stable outlook, pointing instead to the recalibration in how it scores key factors as a driver of the move.
Brantford 99ers fall short in two Wayne Gretzky tournament finals as Markham, Waterloo win titles
NEW YORK, December 30, 2025, 02:50 ET
- Brantford’s U15 BB/B/A 99ers lost 5-2 to the Markham Waxers in Monday’s title game
- Brantford’s U11 BB/B 99ers fell 2-1 in overtime to the Waterloo Wolves in the final
- The Wayne Gretzky International Hockey Tournament runs Dec. 27-30 in Brantford, Ontario
Brantford’s under-15 99ers were beaten 5-2 by the Markham Waxers in the Wayne Gretzky International Hockey Tournament championship game on Monday night, tournament results showed.
The loss capped a day in which the host association put two teams into finals, underscoring the depth of the Brantford program at a holiday tournament that draws clubs from across Ontario.
Earlier Monday, Brantford’s under-11 99ers lost 2-1 in overtime to the Waterloo Wolves in the U11 BB/B championship game, according to the tournament’s schedule and results listing.
The tournament is scheduled to run from Saturday, Dec. 27 to Tuesday, Dec. 30, with multiple age-group divisions playing across Brantford-area rinks.
In the U15 BB/B/A division, Brantford finished the round robin with two wins, one loss and one tie, then beat the Cambridge Hawks 6-4 in the semifinals before reaching the title game.
The final was played at the Wayne Gretzky Sports Centre, where Markham pulled away to claim the trophy after Brantford’s earlier semifinal surge.
In the U11 final, the overtime marker indicates the teams were tied at the end of regulation before the game was decided in sudden victory.
Tournament rules specify that playoff overtime is played as sudden victory with three skaters and a goalie per side, a format designed to open the ice and produce a quick winner.
Brantford’s two runner-up finishes came as local teams were among the last still playing on the tournament’s final full day of championship matchups.
