Armenia gets higher rating
04.07.2008,
03:10
The international rating agency Fitch has raised Armenia’s international rating from BB- to BB.
YEREVAN, July 3. /ARKA/. The international rating agency Fitch has raised Armenia’s international rating from BB- to BB.
“It is of paramount importance now, as it contributes to the creation of favorable conditions for economic growth and investments in the country,” RA Prime Minister Tigran Sargsyan stated at the Government’s sitting.
He pointed out that besides the main reasons for a higher rating assigned to Armenia the Fitch report indicates a positive effect of the new Government’s initiatives to implement reforms, which will form a competitive economy in Armenia.
“The report also indicates a consistent macroeconomic policy, which creates favorable conditions for investments,” Sargsyan said.
The RA Prime Minister said that the rating assigned to Armenia by one of the world’s leading rating agencies contributes to the Government-implemented reforms. “This is an impartial and serious signal for all the organizations working on the international financial market,” he said.
On June 5, 2006, Fitch Ratings assigned the issuer default rating in national and foreign currency (BB-, prospect Stable) to Armenia. The agency also assigned a short-term rating (B), and a BB- country ceiling rating to the country. –0--
“It is of paramount importance now, as it contributes to the creation of favorable conditions for economic growth and investments in the country,” RA Prime Minister Tigran Sargsyan stated at the Government’s sitting.
He pointed out that besides the main reasons for a higher rating assigned to Armenia the Fitch report indicates a positive effect of the new Government’s initiatives to implement reforms, which will form a competitive economy in Armenia.
“The report also indicates a consistent macroeconomic policy, which creates favorable conditions for investments,” Sargsyan said.
The RA Prime Minister said that the rating assigned to Armenia by one of the world’s leading rating agencies contributes to the Government-implemented reforms. “This is an impartial and serious signal for all the organizations working on the international financial market,” he said.
On June 5, 2006, Fitch Ratings assigned the issuer default rating in national and foreign currency (BB-, prospect Stable) to Armenia. The agency also assigned a short-term rating (B), and a BB- country ceiling rating to the country. –0--
