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Fitch revises Yerevan City's outlook to negative; affirms 'BB-'

20.04.2020 17:28

Fitch revises Yerevan City's outlook to negative; affirms 'BB-'

YEREVAN, April 20. /ARKA/. Fitch Ratings has revised Yerevan City's Outlook to Negative from Stable, while affirming the city's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BB-'. A full list of rating actions is below.

The revision of Outlook follows a recent similar action on the sovereign ratings of Armenia (see ' Fitch Revises Outlook on Armenia to Negative; Affirms at 'BB-' dated 3 April 2020 on www.fitchratings.com), due to expected negative impact of the coronavirus pandemic on the national economy. We view the city's ratings as being capped by the sovereign's.

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