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Vache Gabrielyan Says "Fitch" Assessments Have Direct Financial Cons

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  • Vache Gabrielyan Says "Fitch" Assessments Have Direct Financial Cons

    VACHE GABRIELYAN SAYS "FITCH" ASSESSMENTS HAVE DIRECT FINANCIAL CONSEQUENCES

    ARMENPRESS
    SEPTEMBER 9, 2011
    YEREVAN

    "Fitch" rating company gave Armenia BB- rating during these days.

    Armenia is getting rating assessments from two world organizations
    - "Fitch" and "Moody's". Their assessments are being taken into
    consideration in financial deals in the whole world. Speaking to
    reporters today Finance Minister Vache Gabrielyan said the given
    assessments serve as a basis for investors and companies.

    "The assessments of these rating organizations have direct financial
    consequences, they are being made correspond to the prices of state
    assets and income", the minister said.

    The BB- rating given to Armenia is considered stable. Gabrielyan said a
    prospect assessment is also being given. It may be stable, positive and
    negative. "It is a warning shot after which the assessments are being
    changed as a rule", the finance minister said. Armenia's assessment
    in this respect is stable.

    Gabrielyan also noted that Armenia is cooperating with "Fitch" since
    2006 and started with BB-, then it had BB as a result of economic
    crisis and then passed to BB-. "We have been fluctuating in the same
    category", Vache Gabrielyan said.

    The assessments also note Armenia's economic privileges and flaws.

    Among the priorities are comparatively strong economic policy, being
    light in serving the debt. Among the flaws the low level of income
    is mentioned.



    From: Emil Lazarian | Ararat NewsPress
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