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FITCH RATINGS' RISE OF ARMENIAN'S COUNTRY THRESHOLD EVIDENCE OF CURRENCY CONVERSION RISK REDUCTION
Arka News Agency, Armenia
Aug. 18, 2006
YEREVAN, August 18. /ARKA/. The rise of Armenia's country threshold
from "BB-" to "BB" by the Fitch Ratings agency is evidence of reduction
of currency conversion risks in Armenia, Chairman of the Central Bank
of Armenia (CBA) Tigran Sargsyan stated in his exclusive interview
to ARKA.
According to him, Armenia's private companies must take advantage of
this positive impulse and work at getting their own ratings that may
be higher than Armenia's country rating.
Sargsyan pointed out that Fitch Ratings agency also announced the
rise in the country thresholds of 40 countries, including Russia
and Kazakhstan.
"The rise reflects considerable liberalization on capital markets and
currency control, as well as the countries' further integration into
global economy," Sargsyan said.
On June 5, 2006, Fitch Ratings assigned Armenia Issuer Default Ratings
in foreign and national currencies "BB-" with "Stable" forecast. The
Agency also assigned the country a short-term rating "B" and "country
threshold" rating "BB-" On July 24, 2006, the international rating
agency Moody's Investors Service assigned the Armenian Government
sovereign ratings in foreign and national currency "Ba2". P.T. -0--
Arka News Agency, Armenia
Aug. 18, 2006
YEREVAN, August 18. /ARKA/. The rise of Armenia's country threshold
from "BB-" to "BB" by the Fitch Ratings agency is evidence of reduction
of currency conversion risks in Armenia, Chairman of the Central Bank
of Armenia (CBA) Tigran Sargsyan stated in his exclusive interview
to ARKA.
According to him, Armenia's private companies must take advantage of
this positive impulse and work at getting their own ratings that may
be higher than Armenia's country rating.
Sargsyan pointed out that Fitch Ratings agency also announced the
rise in the country thresholds of 40 countries, including Russia
and Kazakhstan.
"The rise reflects considerable liberalization on capital markets and
currency control, as well as the countries' further integration into
global economy," Sargsyan said.
On June 5, 2006, Fitch Ratings assigned Armenia Issuer Default Ratings
in foreign and national currencies "BB-" with "Stable" forecast. The
Agency also assigned the country a short-term rating "B" and "country
threshold" rating "BB-" On July 24, 2006, the international rating
agency Moody's Investors Service assigned the Armenian Government
sovereign ratings in foreign and national currency "Ba2". P.T. -0--