YEREVAN, February 2. /ARKA/. Fitch Ratings agency has downgraded Armenia’s long-term foreign and local currency Issuer Default Ratings (IDRs) from ‘BB-‘ to ‘B+’, with outlook kept stable, the agency’s website reported.

The issue ratings on Armenia's senior unsecured foreign and local currency bonds are also downgraded to 'B+' from 'BB-'. The Country Ceiling has been revised to 'BB-' from 'BB' and the Short-term foreign currency IDR affirmed at 'B', says the report.

Earlier, on January 16, Moody’s Investors Service lowered Armenia’s issuers and government bond ratings from Ba2 to Ba3 and the outlook from stable to negative. –0--

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A Central Bank of Armenia Board member Armenak Darbinyan praised today the country’s banking system describing it as ‘one of the most stable financial systems in the region’, adding also that this should be advertised vigorously among citizens

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