VACHE GABRIELYAN SAYS “FITCH” ASSESSMENTS HAVE DIRECT FINANCIAL CONSEQUENCES
ARMENPRESS
SEPTEMBER 9, 2011
YEREVAN
“Fitch” rating company gave Armenia BB- rating during these days.
Armenia is getting rating assessments from two world organizations
– “Fitch” and “Moody’s”. Their assessments are being taken into
consideration in financial deals in the whole world. Speaking to
reporters today Finance Minister Vache Gabrielyan said the given
assessments serve as a basis for investors and companies.
“The assessments of these rating organizations have direct financial
consequences, they are being made correspond to the prices of state
assets and income”, the minister said.
The BB- rating given to Armenia is considered stable. Gabrielyan said a
prospect assessment is also being given. It may be stable, positive and
negative. “It is a warning shot after which the assessments are being
changed as a rule”, the finance minister said. Armenia’s assessment
in this respect is stable.
Gabrielyan also noted that Armenia is cooperating with “Fitch” since
2006 and started with BB-, then it had BB as a result of economic
crisis and then passed to BB-. “We have been fluctuating in the same
category”, Vache Gabrielyan said.
The assessments also note Armenia’s economic privileges and flaws.
Among the priorities are comparatively strong economic policy, being
light in serving the debt. Among the flaws the low level of income
is mentioned.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2011/09/10/vache-gabrielyan-says-fitch-assessments-have-direct-financial-cons/
