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—-
