Fitch rates Armenia's ACBA-CREDIT AGRICOLE Bank bonds at 'B+'

Fitch rates Armenia's ACBA-CREDIT AGRICOLE Bank bonds at 'B+'
December 7, 2017 - 12:50 AMT

PanARMENIAN.Net - Fitch Ratings has assigned the long-term "B +" rating to the $5 million bonds of Armenia's ACBA-CREDIT AGRICOLE Bank.

In summer of 2017, the bank issued the bonds with 5.5% yield and a maturing period by 2020.

Fitch had assigned ACBA-CREDIT AGRICOLE bank the Long-term Issuer Default Rating (IDR) at “B+” with stable outlook back in May.

When defining the rating, the agency considered the bank’s absolute leading position in the sector of agriculture financing, infrastructure facilities including the number of branches in all the regions of Armenia, as well as high level of liquidity.

The assessment received by Fitch Ratings agency is the highest possible for companies in Armenia and it reassures the leading position of ACBA-CREDIT AGRICOLE bank and its transparent structure.

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