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Armenia Outlook Stable

Armenia  Outlook StableArmenia  Outlook Stable

Fitch Ratings has affirmed Armenia’s Long-Term Foreign and Local Currency Issuer Default Ratings at ‘B+’ with stable outlook, Panorama reported. According to the release issued by the statistical rating organization, the issue ratings on Armenia’s senior unsecured Long-Term Foreign Currency bonds have also been affirmed at ‘B+’. The Country Ceiling has been affirmed at ‘BB-’ and the Short-Term Foreign Currency and Local Currency IDRs at ‘B’. At the same time, the organization points out the ratings are weighed down due to the high net external debt, high fiscal deficits leading to a rising debt burden, a highly dollarized banking sector and tensions with some neighboring countries.

 

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