INTERNATIONAL RATING TO BE GIVEN TO ARMENIAN ARMECONOMBANK IN AUGUST-SEPTEMBER 2006

ARKA News Agency, Armenia
June 12 2006

YEREVAN, June 12. /ARKA/. International rating is expected to be given
to Armenian Armeconombank in August-September 2006, Armeconombank
Executive Director Ashot Osipyan said Friday at a press conference.

In his words, appropriate agreement has already signed with Moody’s
rating agency. He said it is impossible to join international market
without this rating.

Osipyan also said the bank is believed to receive deposit rating. He
said that it is “very difficult and romantic” to get the same rating
as the republic’s, because, as a rule, economy entities get a rating
one step lower than their countries.

Fitch rating agency gave Armenia “BB-” credit rating on June 5.

From: Emil Lazarian | Ararat NewsPress