{"id":98845,"date":"2016-06-09T13:29:22","date_gmt":"2016-06-09T13:29:22","guid":{"rendered":"https:\/\/armbanks.am\/2016\/06\/09\/244804\/"},"modified":"2024-12-15T13:24:08","modified_gmt":"2024-12-15T13:24:08","slug":"having-credit-rating-agencys-assessment-important-for-attracting-foreign-capital","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2016\/06\/09\/98845\/","title":{"rendered":"Having credit rating agency\u2019s assessment important for attracting foreign capital"},"content":{"rendered":"

YEREVAN, June 9. \/ARKA\/.<\/strong> Having an assessment of an international credit rating agency is important for a company wishing to attract foreign capital, and Armenian companies should seek this too, Konstantin Saroyan,\u00a0 the\u00a0 director of NASDAQ OMX Armenia stock exchange said today.<\/p>\n

Speaking to reporters on the sidelines of the first ever Fitch Ratings conference in Yerevan, he said having healthy capital markets is a key requirement for sustainable economic growth \u2013 and healthy capital markets require information and transparency.<\/p>\n

In his words, credit rating agencies play an important role in providing information that aids transparency and market efficiency, thereby reducing the imbalance of information that often exists between buyers and sellers.<\/p>\n

According to Saroyan, it is time for Armenian companies to have the ratings too\u00a0 because \u2018our markets are opening to foreign markets and investors.\u2019<\/p>\n

No foreign investor will conduct an independent rating or assessment of\u00a0 a country or company, he said, adding, however, that an assessment of a credit\u00a0 rating agency can not replace an audit or inspection.<\/p>\n

“Fitch assigns ratings\u00a0 to Armenia as a country and two banks, however, we must have as many banks and companies as possible to have the assessments\u00a0 of international credit rating agencies,\u2019 he said.<\/p>\n

Fitch Ratings is conducting its first conference in Armenia, being attended by representatives of the public and corporate sectors. The main objective of the conference is to tell\u00a0 Armenian public and private sectors what Fitch Ratings is.<\/p>\n

Earlier this year Fitch Ratings agency downgraded Armenia\u2019s long-term foreign and local currency Issuer Default Ratings (IDRs) from \u2018BB-\u2018 to \u2018B+\u2019, with outlook kept stable.<\/p>\n

The issue ratings on Armenia’s senior unsecured foreign and local currency bonds was\u00a0 downgraded to ‘B+’ from ‘BB-‘. The Country Ceiling was revised to ‘BB-‘ from ‘BB’ and the Short-term foreign currency IDR affirmed at ‘B.’ -0-<\/p>\n","protected":false},"excerpt":{"rendered":"

Having an assessment of an international credit rating agency is important for a company wishing to attract foreign capital, and Armenian companies should seek this too, Konstantin Saroyan, the director of NASDAQ OMX Armenia stock exchange said today<\/p>\n","protected":false},"author":1,"featured_media":175746,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[14209,14210,15644],"class_list":{"0":"post-98845","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-en","8":"category-news","9":"tag-credit-rating-agency","10":"tag-foreign-capital","11":"tag-nasdaq-omx-armenia-3"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/98845","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=98845"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/98845\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/175746"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=98845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=98845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=98845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}