On August 24, S&P Global Ratings stated that the Trump Route for International Peace and Prosperity (TRIPP) could strengthen regional connectivity and support trade and investment in the medium term as part of its assessment of Armenia. The agency noted that the framework agreement establishes the main principles governing the project, including issues related to governance and sovereignty. However, S&P emphasized that implementation remains at an early stage, with the scope of the project, financing arrangements and detailed concession terms yet to be finalized.

S&P analysts also assessed the potential impact of Armenia’s parliamentary elections on relations with Azerbaijan. According to the agency, the election results could provide fresh momentum for the normalization of bilateral relations and increase the prospects for signing and implementing a peace agreement. The agency noted that Armenia and Azerbaijan initialed the text of a peace agreement in 2025, but its formal signing and implementation remain dependent on the fulfilment of several conditions. Further progress in normalizing relations, S&P stated, could also stimulate transit and trade across the region.