CENTRAL BANK OF ARMENIA REVIEWS RATINGS OF EUROTERM COMPANY

ARKA
Jan 29, 2009

YEREVAN, January 29. /ARKA/. The Central Bank of Armenia (CBA) reviewed
the ratings of Euroterm company. The CBA conferred "B" (second letter
of Armenian alphabet) ratings to Euroterm closed joint stock company,
the CBA press service reported.

On March 18 2008, the CBA had improved Euroterm’s ratings from "B"
to "B+"

For the first time, the Central Bank of Armenia conferred ratings to
Armenian enterprises in September 2005. According to the principles
developed on conferring ratings, the CBA publishes only the names of
enterprises that are given high ratings (A, B, C). Lower ratings (D, E,
F) are published by the CBA only upon their consent of the enterprises.

The CBA accepts high-rating bonds as security in REPO transactions with
banks. Along with it, for these companies the CBA applies a favorable
scale of credit risk evaluation for extension of credits by banks.

38 companies are covered in the ratings published by the CBA.

From: Emil Lazarian | Ararat NewsPress