MOODY’S RATING COMPANY CONFERRED CURRENCY EXTERNAL AND INTERNAL RATING Ba 2 TO ARMENIA

Yerevan, July 25. ArmInfo. The Moody’s Rating Company (USA) conferred
a currency external and internal rating Ba 2 to Armenia, the Chairman
of the RA Central Bank Tigran Sarkissyan said at the press-conference.

According to him, the rating, conferred to Armenia, is a good indicator
enough for the country. He added that Armenia stands at one level with
Azerbaijan by its rating, it passes ahead of Georgia by two points
and Turkey – by one point. Sarkissyan added that the conferred rating
will allow Armenia to take its place on the "financial map of the
world" and will enable the foreign investors to properly assess the
financial risks and to develop a strategy of work in RA. Moreover,
the rating enables the country’s Government to issue bonds and to
distribute them in the international market.

Sarkissyan noted that according to the new method of Moody’s, the
management subjects and commercial banks of Armenia are given an
opportunity to receive an individual rating which can be higher than
the country’s rating. Thus, this method allows the local companies
to independently enter the international currency market and to
establish business contacts with international organizations. T.
Sarkissyan said that 5 Armenian companies, including the commercial
banks, have already addressed to receive the individual rating, the
process of conferring of which will be finished in September- October.

To be noted, the Fitch Rating Agency had conferred a sovereign credit
rating (Issuer Default ratings, IDR) "BB" to Armenia in the beginning
of June, 2006, with a stable forecast.

From: Emil Lazarian | Ararat NewsPress