Fitch rates Armenian capital of Yerevan 'B+'; Outlook StableMarch 6, 2021 - 12:49 AMT PanARMENIAN.Net - Fitch Ratings has assigned the Armenian City of Yerevan Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of 'B+' with Stable Outlook, the agency said Thursday, March 4. The ratings reflect Yerevan's Standalone Credit Profile (SCP) of 'bb-', resulting from a combination of a 'Vulnerable' risk profile and a 'aaa' debt sustainability assessment. The IDRs are capped by the Armenian sovereign ratings of 'B+'/Stable. Yerevan is Armenia's largest economic and metropolitan area. As of 2020, the city's population was 1.1 million. The economy is dominated by the service sector and its wealth metrics are modest compared with international peers. The city's accounts are cash-based, and the budget framework covers a single year. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. |