YEREVAN, March 3./ ARKA/. Fitch Ratings has revised Armenian ACBA BANK Open Joint-Stock Company’s (ACBA) Outlook to Positive from Stable. Its Long-Term Issuer Default Ratings (IDRs) has been affirmed at ‘B+, Acba Bank said today.
The Positive Outlook on the bank’s rating reflects the agency’s view that Armenia’s buoyant economic growth, strengthening sovereign credit profile and improving external finances would improve the bank’s operating environment, and underpin the stability of the banks’ key credit metrics.
Fitch expects also positive economic conditions to persist and to further contribute to revenue and credit growth in the sector.
It anticipates that these positive developments will result in sustained strengthening of the bank’s financial profiles, in particular with respect to their profitability, capitalization, funding and liquidity.
Acba bank is controlled by the Central Bank of Armenia. -0-
