Sun, 26 October
7.1 C
Yerevan
USD: 383.05 RUB: 4.73 EUR: 444.80 GEL: 141.19 GBP: 510.03

Reforms in energy sector to improve Armenia’s Moody’s sovereign rating

YEREVAN, July 14. /ARKA/. Reforms in Armenia’s energy sector will improve the country’s Moody’s sovereign rating, Ashot Manukyan, energy infrastructures and natural resources minister, said on Friday as he met with a representative of Moody’s.

Manukyan presented the energy, water reserves and natural resources programs being implemented in Armenia.

«Armenia has applied to the Extractive Industries Transparency Initiative to join it,» he said. «I am convinced that this will have a positive impact on Armenia’s sovereign rating.»

Manukyan also spoke about liberalization of electric energy and water resources markets.

The minister discussed with the Moody’s representative room for assignment of ratings to Armenia’s energy and mining companies.

In March 2016, Moody’s Investors Service International Ratings Agency downgraded Armenia’s long-term issuer and senior unsecured debt ratings to B1 from Ba3, but upgraded outlook from Negative to Stable. –0—-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

LATEST NEWS

spot_imgspot_imgspot_img