YEREVAN, July 7. \/ARKA\/. 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\u2019s rating with Armenia\u2019s sovereign rating.<\/p>\n\n\n\n
Concurrently, Moody\u2019s has upgraded the Bank’s Baseline Credit Assessment (BCA) and Adjusted BCA to ba3 from b1. The long-term local and foreign currency Counterparty Risk Ratings (CRRs) were upgraded to Ba2 from Ba3, and the long-term Counterparty Risk Assessment (CR Assessment) was upgraded to Ba2(cr) from Ba3(cr).<\/p>\n\n\n\n
Converse Bank Deputy CEO and CFO, Grant Akopian, commented on the rating upgrade: \u201cThe upgrade of Converse Bank\u2019s ratings by Moody\u2019s reflects the sustained improvements in our asset quality, stable capital adequacy, and strong profitability and liquidity metrics. This recognition also highlights the effective collaboration we have with international institutions and partners, which enables us to consistently strengthen our position in the financial market\u201d.<\/p>\n\n\n\n
According to Moody\u2019s report, the decline in the problem loan ratio was a key factor in the rating upgrade. The report further notes that capital adequacy remains one of Converse Bank\u2019s key credit strengths, providing a buffer against potential asset risks.<\/p>\n\n\n\n
Converse Bank is supervised by the Central Bank of Armenia.-0-<\/p>\n","protected":false},"excerpt":{"rendered":"
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\u2019s rating with Armenia\u2019s sovereign rating.<\/p>\n","protected":false},"author":5,"featured_media":264996,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,13105],"tags":[],"class_list":{"0":"post-265007","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-ratings"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/265007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=265007"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/265007\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/264996"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=265007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=265007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=265007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}