YEREVAN, September 6. /ARKA/. Fitch Ratings has assigned the Republic of Armenia's potential upcoming USD-denominated notes an expected 'BB-(EXP)' rating, the press office of Fitch reports.
The final rating is contingent on the receipt of final documentation conforming to information already received.
The expected rating is in line with Armenia's Long-Term foreign currency Issuer Default Rating (IDR) of 'BB-'. The Outlook on the rating is Stable.
In May 2013, Armenian government approved the concept of the emission of first Eurobonds, which is expected to amount to $500 million. Their maturity term is 10 years.
On August 8, 2013, Armenian government approved the signing of agreements with some companies which will be underwriters of the first issue of Eurobonds. Deutsche Bank AG, London Branch, HSBC Bank plc and J.P.Morgan Securities plc are among them. ---0---