YEREVAN, June 23. /ARKA/. Armenian Central Bank reviewed ratings of eight Armenian companies. Ratings of five companies were not changed. Rating of one company has gone up and rating of another company has terminated.
Rating of CJSC “Elite Group” and CJSC “Armenian Copper program” is on the level “G” (third letter of Armenian alphabet), CJSC “ Glendale Hills”, CJSC “Publishing-house Tigran Mets” and Open JSC “Pure Iron Plant” – on the level “G plus”, rating of Ltd “Anteres – from “G minus” to “G”. Rating of CJSC “Onix GE” is reduced from “G-” to “D+”.
CB terminated awarding of rating to CSJC “Araratcement” (previous rating – “G plus”) due to termination of cooperation.
The first time CB published the ratings of Armenian companies in September 2005. In 2005 monitoring of CB covered 30 companies, of which only 15 got rating of high class. In accordance with the principles of awarding ratings, CB publishes only the names of the companies which had high ratings. In case of low ratings, CB publishes the names of the companies only by their agreement.
CB is ready to accept the bonds of the companies having high rating (A, B, G) as a pledge during REPO transactions. CB envisaged privileged scale for the assessment of credit risks while providing credits by the banks. –0—
