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Tag: Fitch

Fitch Ratings: business conditions will remain supportive for lenders in Armenia

Banks admin -
The sector outlook for 2022 for banks in the CIS+ region is neutral, Fitch Ratings said. According to it,  business conditions will remain supportive for lenders in the region (Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Russia, Ukraine and Uzbekistan)

Fitch forecasts 7.4% for Armenia in 2021

Economy admin -
Fitch Ratings has affirmed Armenia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B+' with a Stable Outlook, saying also that inflation accelerated to 8.8% yoy in August 2021, above the Central Bank of Armenia's (CBA) target of 4.0%, driven primarily by global pressures on food prices (15.1% yoy), rebounding demand from the 2020 recession, and bottlenecks in supply chains

Fitch Affirms Armenia at ‘B+’; Outlook Stable

Economy admin -
Fitch Ratings has affirmed Armenia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B+' with a Stable Outlook

Fitch Affirms ACBA Bank at ‘B+’, Outlook Negative

Banks admin -
Fitch Ratings has affirmed the Armenia's ACBA BANK Open Joint-Stock Company's (ACBA) Long-Term Issuer Default Rating (IDR) at 'B+' with a Negative Outlook. A full list of rating actions is at the end of this commentary

Fitch Affirms Ardshinbank at ‘B+’, Outlook Negative

Banks admin -
Fitch Ratings has affirmed Armenia's Ardshinbank CJSC's (Ardshin) Long-Term Issuer Default Rating (IDR) at 'B+' with a Negative Outlook

Fitch Affirms Armenia at ‘B+’; Outlook Stable

Interviews admin -
The impact of the twin Covid-19 pandemic and conflict shocks saw Armenian government indebtedness reverse its prior downward trend, with general government debt/GDP rising 13.8pp to 67.3% at end-2020, overtaking the current 'B' median (63.8%), Fitch Ratings said last week after affirming Armenia's Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) at 'B+' with a Stable Outlook

Fitch rates Armenian city of Yerevan ‘B+’; outlook stable

Economy admin -
Fitch Ratings said it has assigned the Armenian City of Yerevan Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of 'B+' with Stable Outlook

Fitch Downgrades Armenian City of Yerevan to ‘B+’; Outlook Stable

Economy admin -
Fitch Ratings has downgraded the Armenian City of Yerevan's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'B+' from 'BB-'. The Outlook is Stable

Fitch downgrades Armenia to ‘B+’; outlook stable

Interviews admin -
Fitch Ratings has downgraded Armenia's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'B+' from 'BB-'. The Outlook is Stable

Fitch revises Yerevan City’s outlook to negative; affirms ‘BB-‘

Economy admin -
Fitch Ratings has revised Yerevan City's Outlook to Negative from Stable, while affirming the city's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BB-'. A full list of rating actions is below

Fitch affirms ratings of ACBA-CREDIT AGRICOLE BANK and Ardshinbank at ‘B +’, revises outlooks to Negative from Stable

Banks admin -
Fitch Ratings has revised the Outlooks on ACBA-CREDIT AGRICOLE CJSC's (ACBA) and Ardshinbank CJSC's (Ardshin) Long-Term Issuer Default Ratings (IDRs) to Negative from Stable and affirmed the IDRs at 'B+', according to the agency’s press release

Fitch ratings projects that Armenia’s government debt may rise from 53.6% at end-2019 to 59.2% of GDP in 2020

Economy admin -
Armenia’s general government debt is projected to rise from 53.6% at end-2019 to 59.2% of GDP in 2020 before falling back to 56.0% in 2021, upward revisions of 9.4pp and 7.4pp, respectively, since our last review, and well above the current 'BB' median of 46.5%, Fitch Ratings said in a report

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Central Bank of Armenia warns about fraudulent surveys and urges not to share banking data

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The Central Bank of Armenia does not conduct any surveys regarding citizens' banking data, the regulator said today.

Euro up 3.8 drams, US dollar down 0.1 points

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The average market exchange rate of the US dollar to the Armenian dram as of January 22, 2024, was 398.74 drams, down 0.1 points compared to January 21.

Armenia to get $40 million loan from  IBRD for substation reconstruction

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The National Assembly of Armenia has ratified today a $40 million loan agreement between the government and the International Bank for Reconstruction and Development (IBRD, a World Bank division).

US dollar, euro and ruble rise in Armenia for the second day in a row

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The average market exchange rate of the US dollar to the Armenian dram as of January 21, 2024, amounted to 398.84 drams, increasing by 0.2 points compared to January 20.

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