  Moody's upgrades IDBank's rating June 27, 2024 - 17:14 AMT PanARMENIAN.Net - Moody's Ratings on Thursday, June 27 upgraded ID Bank CJSC's (IDBank) long-term local and foreign currency bank deposit ratings to Ba3 from B1 and maintained the stable outlook. Concurrently, Moody’s upgraded the Bank's Baseline Credit Assessment (BCA) and Adjusted BCA to ba3 from b1, upgraded the Bank's long-term local and foreign currency Counterparty Risk Ratings (CRRs) to Ba2 from Ba3, and upgraded the long-term Counterparty Risk Assessment (CR Assessment) to Ba2(cr) from Ba3(cr). The long-term deposit ratings and Baseline Credit Assessment (BCA) of IDBank are at the same level as Armenia's sovereign issuer rating. The upgrade of IDBank's rating reflects the material increase of the Bank’s loan portfolio quality, improvements in corporate governance, as well as profitability growth in the last two years. The Bank is supervised by the CBA.   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 |  Latest news Armenia considers Cyprus as one of its main partners in EU - envoy  Armenia considers Cyprus one of its main partners in the European Union, Ambassador Tigran Mkrtchyan has said.Armenian, Albanian Foreign Ministers discuss ties, regional issues Armenian Foreign Minister Ararat Mirzoyan had a meeting with the Minister of Foreign Affairs of Albania Igli Hasani.POLITICO: Baku lobbying agains detained Karabakh ex-leader abroad Azerbaijan is lobbying agains former Nagorno-Karabakh leader Ruben Vardanyan, according to POLITICO.Armenia confirms will attend NATO summit in Washington Armenia has confirmed its participation in the NATO summit in Washington, a spokesperson has confirmed. |
