Fitch rates Armenian capital of Yerevan 'B+'; Outlook Stable

Fitch rates Armenian capital of Yerevan 'B+'; Outlook Stable

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
---