Yerevan to be included in financial maps of world cities
Fitch Ratings has assigned Armenia’s Yerevan Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) of "B+" and a Short-Term Foreign Currency IDR of "B".
The Outlooks on the Long-Term IDRs are Stable.
The ratings reflect Yerevan's status as Armenia's capital, satisfactory budgetary performance, supported by steady transfers from the central government, and a debt-free status.
The city authorities think that this rating can attract large direct investments. It is also important for further development of investment environment and improvement of the capital city’s reputation.
“Investors, making decisions, very often are guided by these very data released by rating organizations as well as by market stability outlooks, which are considered reliable and reasoned,” the municipality says.
Yerevan Municipality and “Fitch Ratings” organization signed a cooperation agreement in September.
The document was signed by Yerevan Mayor Taron Margaryan and the head of Russia and CIS regional office of “Fitch Ratings” Dmitry Surkov. --0--