Fitch Ratings to assign public finance management rankings to Armenian capital city

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16.09.2016, 18:06

The Municipality of Yerevan and Fitch Ratings have signed today an agreement on the assignment of international public finance management rankings to the Armenian capital city.

Fitch Ratings to assign public finance management rankings to Armenian capital city

YEREVAN, September 16. /ARKA/. The Municipality of Yerevan and Fitch Ratings have signed today an agreement on the assignment of international public finance management rankings to the Armenian capital city.

The agreement was signed by mayor of Yerevan Taron Margaryan and the head of Fitch Ratings in Russia and CIS Dmitry Surkov.

According to Margaryan, the agreement will enable Yerevan to find its place on the world financial map. He said Fitch Ratings will in turn be evaluating the quality of public finance management, professional risks and financial sustainability rating of the city.

Armenia is being rated by two international rating agencies - Fitch Ratings and Moody's. On June 23 Fitch Ratings confirmed Armenia’s he long-term Issuer Default Rating (IDR) in foreign and local currency ratings at "B +" with "stable" outlook. -0-

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