FITCH ASSIGNS ARMENIA’S POTENTIAL UPCOMING USD-DENOMINATED NOTES ‘BB-(EXP)’ RATING
YEREVAN, September 6. /ARKA/. Fitch Ratings has assigned the Republic
of Armenia’s potential upcoming USD-denominated notes an expected
‘BB-(EXP)’ rating, the press office of Fitch reports.
The final rating is contingent on the receipt of final documentation
conforming to information already received.
The expected rating is in line with Armenia’s Long-Term foreign
currency Issuer Default Rating (IDR) of ‘BB-‘. The Outlook on the
rating is Stable.
In May 2013, Armenian government approved the concept of the emission
of first Eurobonds, which is expected to amount to $500 million. Their
maturity term is 10 years.
On August 8, 2013, Armenian government approved the signing of
agreements with some companies which will be underwriters of the
first issue of Eurobonds. Deutsche Bank AG, London Branch, HSBC Bank
plc and J.P.Morgan Securities plc are among them. —0—
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