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Fitch Assigns Armenia's Potential Upcoming USD-Denominated Notes 'BB

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  • Fitch Assigns Armenia's Potential Upcoming USD-Denominated Notes 'BB

    FITCH ASSIGNS ARMENIA'S POTENTIAL UPCOMING USD-DENOMINATED NOTES 'BB-(EXP)' RATING

    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---

    - See more at:
    http://arka.am/en/news/economy/breaking_news_fitch_assigns_armenia_s_potential_up coming_usd_denominated_notes_bb_exp_rating/#sthash.Z85llB9B.dpuf

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