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Tag: S&P

S&P reaffirms Armenia’s sovereign credit ratings with stable outlook

Banks
On August 23, international credit rating agency S&P Global Ratings reaffirmed Armenia's long-term and short-term sovereign credit ratings in both foreign and local currency at "BB-/B." The agency also maintained its "stable" outlook for the country.

Standard & Poor’s (S&P) Global Ratings assigns ‘B+’ long-term foreign- and local-currency sovereign credit ratings to Armenia

Economy
On October 12, 2021, S&P Global Ratings assigned its ‘B+’ long-term foreign- and local-currency sovereign credit ratings to Armenia. At the same time, it assigned its ‘B’ short-term foreign- and local currency ratings. The outlook is positive. It also assigned its 'BB-' transfer and convertibility assessment to Armenia

S&P 500 recorded its biggest drop in nearly 7 weeks – Marketwatch

Capital market
U.S. stocks suffered their biggest one-day slide in nearly seven weeks on Monday as a withering selloff among energy companies, which closely tracked oil’s continued price slide, dragged down key benchmark indexes

Ireland’s credit rating upgraded at S&P

Economy
Ireland’s credit rating was upgraded one level by Standard & Poor’s, which said the strengthening economy will help the government reduce its debt, Bloomberg reported

S&P upgrades outlook for India rating to “stable” from “negative”

Economy
Standard and Poor's raised the outlook for India's "BBB-minus" rating to "stable" from "negative," saying the country's government mandate and improved political setting offered a conducive environment for reforms, Reuters reported

S&P 500 scores first close above 2,000: Reuters

Capital market
U.S. stocks edged higher on Tuesday to lift the S&P 500 just a hair above the 2,000 mark, its first close above that milestone, after data that pointed to a brighter future for the economy

S&P -Rating Actions Taken On 32 Russian Banks

Banks
Standard & Poor's Ratings Services yesterday revised the outlook to negative on 18 Russian banks and to stable on one other and affirmed the counterparty credit ratings on these banks. In addition, the ratings on 13 banks has been affirmed; their outlooks remain unchanged, S&P reports

S&P affirms Egypt’s rating on funding from bilateral donors:WSJ

Economy
Standard & Poor's Ratings Services affirmed the Arab Republic of Egypt's rating, citing evidence of bilateral donors' willingness to provide funding to avert an external financing crisis, the Wall Street Journal reported today

S&P lowers Italy’s credit rating to BBB

Economy
Standard & Poor's Ratings Services lowered Italy's credit rating, saying the country's economic prospects are getting weaker, Prime reported

S&P’s raises Cyprus` long-term foreign and local currency sovereign credit ratings to `CCC+`

Economy
Rating Agency Standard and Poor`s raised on Wednesday Cyprus` long-term foreign and local currency sovereign credit ratings to `CCC+` from `SD` (selective default) with a stable outlook, following the successful exchange of €1 billion government bond`s with longer maturities, RBC reported citing Reuters

Russian oil company Rosneft OJSC upgraded to ‘BBB’

Economy
Russian state-owned Oil Company Rosneft OJSC (Rosneft) has completed the acquisition of TNK-BP International Ltd. for $44.4 billion in cash and 12.84% of its treasury stock

U.S. launches civil action against S&P over pre-crisis ratings

Economy
The U.S. government has launched a civil lawsuit against Standard & Poor's and parent The McGraw-Hill Companies Inc over mortgage bond ratings

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ACBA Bank to Invest $50 Million in MSME Development in Partnership with JICA (VIDEO)

ACBA Bank and the Japan International Cooperation Agency, JICA, are launching a partnership, as a result of which ACBA Bank will invest $50 million in the development of micro, small and medium-sized enterprises in Armenia.

Pashinyan: “banking secrecy is no longer a ‘sacred cow’ in democratic countries”

Armenian Prime Minister Nikol Pashinyan said today that banking secrecy cannot be inaccessible to the state.

Euro down 1.47 points to 412.25 drams

The average market exchange rate of the US dollar to the Armenian dram as of January 31, 2024, was 97.35 drams, down 0.57 points compared to January 30.

Armenian company buys Russian subsidiary of Goldman Sachs

Russian President Vladimir Putin has authorised the purchase of Goldman Sachs' unit in Russia by investment company Balchug Capital, a government decree published on Friday showed, Frank Media reports.

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