Moody's changes Armenia's rating outlook to positive from stableMarch 12, 2018 - 16:18 AMT PanARMENIAN.Net - Moody's Investors Service ("Moody's") has changed the outlook on Armenia's rating to positive from stable and affirmed the B1 long-term issuer and senior unsecured debt ratings, the company announced. The positive outlook is underpinned by macroeconomic policies that should reduce Armenia's vulnerability to external shocks. Moreover, ongoing reforms of the fiscal framework may shore up fiscal strength over time. Armenia's B1 rating balances credit strengths from robust growth potential and improving institutional strength against credit challenges stemming from a small and low income economy that remains exposed to external developments, a moderately high debt burden that relies on external funding, and latent geopolitical tensions with neighbouring Azerbaijan. Moody's has also raised Armenia's long-term local-currency bond and deposit ceilings to Baa3 from Ba2. Armenia's long-term and short-term foreign currency bond and deposit ceilings remain unchanged at Ba2/"Not Prime" and B2/"Not Prime", respectively. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |