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Moody's assigns a b2 corporate family rating to Zngezur Copper Molybdenum Combine CJSC

23.09.2019 17:57

Moody's assigns a b2 corporate family rating to Zngezur Copper Molybdenum Combine CJSC

YEREVAN, September 23. /ARKA/. Moody's Investors Service ("Moody's") has assigned a corporate family rating (CFR) of B2, probability of default rating (PDR) of B2-PD to Zangezur Copper Molybdenum Combine CJSC (ZCMC), one of the largest exploration and mining companies in Armenia. The outlook is stable.

ZCMC has a concentrated ownership structure with Cronimet Group holding 75% in the company, while its board of directors lacks independent members. ZCMC has substantial related party transactions, which include molybdenum processing under tolling scheme and molybdenum sales, which are conducted with the companies under common control on an arm's length basis. The risk of concentrated ownership is somewhat mitigated by the track record of conservative financial policy and operational improvements since 2015-17.

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Fitch assigns rating to Armenia's forthcoming us dollar bonds

11.09.2019 18:53

Fitch assigns rating to Armenia's forthcoming us dollar bonds

YEREVAN, September 11. /ARKA/. Fitch Ratings has assigned Armenia’s forthcoming US dollar bonds an expected rating of ‘B+(EXP)’, according to the organization’s press release. The final rating is subject to the receipt of final documentation conforming to information already received. Fitch Ratings says in its press release that the expected rating is in line with […]

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Fitch Ratings to update Armenia’s rating next week

07.06.2018 22:28

Fitch Ratings to update Armenia’s rating next week

Armenia’s Minister of Finance Atom Janjughazyan received today a delegation of the Fitch Ratings, led by the head of the department on sovereign ratings Eric Eraispi

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Moody’s changes outlook on Ardshinbank’s ratings to positive from stable

16.03.2018 18:49

Moody’s changes outlook on Ardshinbank’s ratings to positive from stable

Moody’s Investors Service has affirmed Armenian Ardshinbank’s local currency deposit rating of B1, foreign-currency senior unsecured debt rating of B1

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Moody’s changes outlook on Armenia’s rating to positive from stable; B1 rating affirmed

12.03.2018 18:40

Moody’s changes outlook on Armenia’s rating to positive from stable; B1 rating affirmed

Moody’s Investors Service (“Moody’s”) has changed the outlook on Armenia’s rating to positive from stable and affirmed the B1 long-term issuer and senior unsecured debt ratings

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Rating of top ten most profitable credit organizations in Armenia in 2017

21.02.2018 19:00

Rating of top ten most profitable credit organizations in Armenia in 2017

According to a ranking of Armenia’s most profitable credit organizations in 2017 compiled by ARKA news agency, out of 35 credit organizations operating in the country 30 were profitable with a total profit amounting to 51.9 billion drams

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Fitch revises city of Yerevan’s outlook to positive on sovereign rating action

25.12.2017 21:36

Fitch revises city of Yerevan’s outlook to positive on sovereign rating action

Fitch Ratings has revised the Outlook on the Armenian capital city of Yerevan’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to Positive from Stable and affirmed the IDRs at ‘B+’.

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Moody’s: Armenia maintains record of robust economic management

21.08.2017 18:41

Moody’s: Armenia maintains record of robust economic management

Moody’s Investors Service says that Armenia’s B1 issuer rating is supported by the country’s track record of robust economic and financial management through effective fiscal and monetary policies, and high debt affordability

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Fitch Ratings assigns ACBA-CREDIT AGRICOLE BANK long-term issuer default rating at "B +" with stable outlook

23.06.2017 17:11

Fitch Ratings assigns ACBA-CREDIT AGRICOLE BANK long-term issuer default rating at

The international Fitch Ratings has assigned the ACBA-CREDIT AGRICOLE BANK a long-term Issuer Default Rating (IDR) at “B +” with a stable outlook, the bank’s press service reported today. The Yerevan-based bank attributed the assessment to its internal financial viability

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Ranking of most profitable credit organizations of Armenia for 2016

17.02.2017 16:29

Ranking of most profitable credit organizations of Armenia for 2016

YEREVAN, February 17. /ARKA/. ARKA News Agency’s ranking of the most profitable credit organizations of Armenia for 2016 is already available. The news agency’s analysis shows that the credit organizations of the country have doubled their aggregate net profits from AMD 9 953 million in 2015 to AMD 19 675 million in 2016. Of Armenia’s […]

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