Moody's upgrades IDBank's ratingJune 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 | Viva: Armenia's leading technology company introduces a new trademark The updated brand Viva reflects a qualitatively new level of digital services. Turkey restoring 500-year-old Surp Sarkis Armenian Church During the program, Sahak Maşalyan, the Patriarch of Türkiye's Armenians, inspected the historic church and offered prayers. BSEC Secretary General due in Armenia on July 1 On July 1, the Secretary General of the Black Sea Economic Cooperation Organization (BSEC) Lazar Comanescu will pay a working visit to Armenia. Armenia win 3 gold medals at European Junior Boxing Championships Armenia has three world champions after the European Junior Boxing Championships held in Sarajevo over the past week. |