S&P revises outlook on Ameriabank to stableJune 11, 2021 - 13:47 AMT PanARMENIAN.Net - S&P Global Ratings has revised the outlook on Ameriabank to stable from negative and affirmed 'B+/B' long- and short-term issuer credit rating on the bank. 'B+' long-term rating on Ameriabank is one notch lower than its stand-alone credit profile (SACP) rated “bb-“, due to the sovereign’s creditworthiness constraint. The revision of the outlook on Ameriabank follows some stabilization of the macroeconomic and banking environment in Armenia in 2021. S&P expects Armenia's real GDP to expand by 2.5% in 2021 and 4.5% in 2022-2023. S&P believes that Ameriabank is well positioned to retain its leading market positions in Armenia due to recovering macroeconomic environment and the bank's strong domestic brand, professional management team, advanced digitalization strategy and adequate corporate governance. The stable outlook reflects S&P’s expectation that the bank's sufficient liquidity, prudent risk management, and strong local brand will enable it to remain resilient to further potential challenges. 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 | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |