YEREVAN, December 18, /ARKA/ Fitch Ratings has revised Armenia's to Positive from Stable, while affirming the sovereign's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'B+'.

It said in a press release that the economy is experiencing a strong recovery following a large external shock in 2014-15, driven by a structural improvement in export performance, firmer external demand conditions and recovering remittances, and supported by a credible monetary policy framework. Fitch has revised up its growth projection to 4.3% for 2017 from 3.4% previously, as GDP growth averaged 5.3% in 1Q-3Q. ‘We expect growth to average 3.6% in 2018-2019 due to a still favourable environment for remittances and export growth,’ it said.

Armenia has started to implement strong fiscal consolidation. Fitch forecasts the general government budget deficit will shrink to 3.3% of GDP in 2017, from 5.5% in 2016, reflecting expenditure restraint and favourable revenue growth. Fitch expects the general government deficit to narrow further to 3% in 2018 and 2.7% in 2019, below the 'B' and 'BB' medians.

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The Fitch Ratings agency has assigned the long-term “B +” rating to USD-denominated bonds of Armenia-based ACBA-CREDIT AGRICOLE BANK

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Ardshinbank said today that the Fitch Ratings provided rating rationale and in particular stated that “Ardshinbank’s ratings are driven by bank’s reasonable financial metrics

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Moody’s Investors Service has today taken rating actions on the two Armenian banks — Ardshinbank CJSC and VTB Bank (Armenia)

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Fitch Ratings has affirmed Armenia’s long-term foreign and local currency Issuer Default Ratings (IDRs) at ‘B+’ with a Stable Outlook

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Moody’s Investors Service has affirmed Unibank’s baseline credit assessment (BCA) of b3, adjusted BCA of b3, counterparty risk assessment of B1(cr)NP(cr) and B2/NP bank deposit ratings

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YEREVAN, January 20. / ARKA /. Moody’s Investors Service has downgraded the long-term local-currency deposit and foreign-currency senior unsecured debt ratings of Ardshinbank to Ba3 from Ba2, and downgraded Ardshinbank’s and VTB Bank (Armenia)’s foreign-currency deposit ratings to B1 from Ba3. The outlook on the two banks’ ratings has been changed to negative from stable. […]

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Tags: Ardshinbank, Moody's, Ratings, VTB Bank (Armenia)

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Nerses Yeritsyan, deputy head of the Central Bank of Armenia, finds it necessary to create independent rating agencies in Armenia

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Armenia should work out its own rating methodology, which will serve as basis for assessing risks, Tatul Manaseryan, an economist and the head of the Alternative think tank, said Friday at a news conference

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Moody’s downgraded Cyprus’s government bond rating Thursday by three notches from B3 to Caa3, citing the anticipated increase in the government’s debt burden, The Economic Times reported referring to the agency’s statement

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