S&P lowers Italy’s credit rating to BBB

YEREVAN, July 10. / ARKA /. Standard & Poor’s Ratings Services lowered Italy’s credit rating, saying the country’s economic prospects are getting weaker, Prime reported.

S&P lowered its long-term sovereign credit ratings to ‘BBB’ from ‘BBB+’ on Tuesday. The new rating remains investment grade and is two notches above “junk” status. The firm offered a negative outlook, saying it could make another downgrade in 2013 or 2014. Lower credit ratings can make it more expensive for the government to borrow money and can spook bond investors.

S&P says Italy’s economic output is falling and its economic prospects are getting worse after a decade of weakness. It now expects Italy’s GDP to fall by 1.9% this year, worse than the 1.4% decline it forecast in March. -0-

spot_img

POPULAR

Armenia’s banking system is capitalized significantly above regulatory requirement: Central Bank Governor

Armenia's banking system is adequately capitalized and has sufficient liquidity buffers, stated Central Bank Governor Martin Galstyan.

About 10% of Armenia’s dram-denominated government debt is held by international institutional players: Central Bank Governor

Institutional players are entering the dram-denominated government debt market in Armenia, stated Martin Galstyan, Chairman of the Central Bank of Armenia.

Armbanks Weekly Digest: Key Events in Armenia’s Financial Market (May 18-24)

Last week, the Armenian financial market focused on bank restructuring mechanisms, the tax model for bank dividends, the regulatory agenda, comments from international financial institutions, and the development of financial literacy.

AMX’s key goal is integration into international capital markets – CEO

One of the key goals of the Armenia Securities Exchange (AMX) is the integration of the Armenian capital market into international markets, stated AMX CEO Hayk Yeganyan.

Government securities dominate Armenia’s capital market, with a volume of approximately $7.4 billion – Galstyan

Government securities dominate Armenia's capital market, with a volume of approximately $7.4 billion in circulation, stated Martin Galstyan, Chairman of the Central Bank of the Republic.

LATEST NEWS

spot_imgspot_imgspot_img