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Mediamax Agency, Armenia
Feb 23 2007
The Moody's Rating brought `Armeconombank' out on the world financial
map, CB Chairman thinks
Yerevan, February 23 /Mediamax/. Having been assigned a rating by the
Moody's Investors Service, `Armeconombank' will be able to attract
long-term assets at low interest rates.
Mediamax reports that the Executive Director of the Bank David
Sukiasian said this in Yerevan today, commenting on the `Moody's
Investors Service' Agency's assigning an E+ financial stability
rating (stability forecast) and B1 on long-term deposits in drams and
in foreign currency to `Armeconombank'.
As the Chairman of the Central Bank of Armenia Tigran Sarkisian
stated, the assignation of a rating means that `from now on
`Armeconombank' is displayed the world financial map', and the
potential investors will be able to really assess the risk of the
bank.
According to the CB Chairman, receiving a rating also strengthens the
positions of `Armeconombank' in the banking system of Armenia.
Mediamax recalls that in early November of 2006, the International
Fitch Ratings Agency assigned VTB-Armenia Bank (VTBA) ratings of
Issuer Default 'BB', Short-term 'B', Individual 'D/E' and Support
'3'.
`ACBA-Credit Agricole Bank' and `Inecobank' informed Mediamax in an
interview in autumn of 2006 that they were holding negotiations with
Fitch Ratings and Moody's Rating Agencies.
5 other Armenian banks (`Ararat Bank', Armenian Development Bank,
`Prometey' Bank, `ITB International Trade Bank' and `Unibank')
informed that they were planning to turn for a rating to
international rating agencies by the end of 2006 or in 2007.
In June 2006 Fitch assigned Armenia BB- (BB minus) sovereign credit
rating with a Stable Outlook. In mid August it revised upwards the
Country Ceiling for Armenia to BB level.
In July 2006, the Moody's Investors Service International rating
agency assigned Armenia Ba2 rating.
Feb 23 2007
The Moody's Rating brought `Armeconombank' out on the world financial
map, CB Chairman thinks
Yerevan, February 23 /Mediamax/. Having been assigned a rating by the
Moody's Investors Service, `Armeconombank' will be able to attract
long-term assets at low interest rates.
Mediamax reports that the Executive Director of the Bank David
Sukiasian said this in Yerevan today, commenting on the `Moody's
Investors Service' Agency's assigning an E+ financial stability
rating (stability forecast) and B1 on long-term deposits in drams and
in foreign currency to `Armeconombank'.
As the Chairman of the Central Bank of Armenia Tigran Sarkisian
stated, the assignation of a rating means that `from now on
`Armeconombank' is displayed the world financial map', and the
potential investors will be able to really assess the risk of the
bank.
According to the CB Chairman, receiving a rating also strengthens the
positions of `Armeconombank' in the banking system of Armenia.
Mediamax recalls that in early November of 2006, the International
Fitch Ratings Agency assigned VTB-Armenia Bank (VTBA) ratings of
Issuer Default 'BB', Short-term 'B', Individual 'D/E' and Support
'3'.
`ACBA-Credit Agricole Bank' and `Inecobank' informed Mediamax in an
interview in autumn of 2006 that they were holding negotiations with
Fitch Ratings and Moody's Rating Agencies.
5 other Armenian banks (`Ararat Bank', Armenian Development Bank,
`Prometey' Bank, `ITB International Trade Bank' and `Unibank')
informed that they were planning to turn for a rating to
international rating agencies by the end of 2006 or in 2007.
In June 2006 Fitch assigned Armenia BB- (BB minus) sovereign credit
rating with a Stable Outlook. In mid August it revised upwards the
Country Ceiling for Armenia to BB level.
In July 2006, the Moody's Investors Service International rating
agency assigned Armenia Ba2 rating.