YEREVAN, November 30. /ARKA/. Armenia’s Central Bank told ARKA Friday it had stopped rating two companies.
The first company is Armavia national air carrier. The rating was stopped on the request of the company. CBA rated Armavia C+ as of 23 July, 2010.
Moreover, CBA also stopped rating Valetta Ltd. on the company’s own request. CBA rated Valetta C- as of 25 February 2011.
Mikhail Bagdasarov, the owner of Armenia’s national air carrier Armavia, founded in 1996, has put the airline for sale. The company started facing the issues last year. Armenia’s main airport Zvartnots has several times suspended Armavia flights due to the company’s debts. In 2013 Armavia can lose the flight permit license.
Valetta Ltd. has been operating in Armenia since 1990. It focuses on commerce (export-import, wholesale-retail), fast-food (SFC), coffee and tea production, development of enterprises, which gain independent status afterwards. The structure united processing enterprises, restaurants, network of shops, household appliances import companies.
Armenia’s Central Bank first published the rating of the Armenian enterprises in September 2005. The rating contained 30 companies, of them 15 were highly rated.
CBA publishes the names of only those companies, which were highly rated. If the companies receive a low rating, CBA can publish their names only with their consent.—0-
