Fitch revises Yerevan’s outlook to negative; affirms 'BB-'

Fitch Ratings has revised Yerevan’s outlook to negative from stable and affirmed it at the 'BB-' level, the agency’s press release noted.

As reported earlier, Fitch Ratings has revised the Outlook on Armenia's Long-Term Issuer Default Ratings (IDR) to Negative from Stable and affirmed the IDRs at ‘BB-‘, the press release said.

The next revision of Yerevan's rating is scheduled for May 22. Fitch expects the situation to worsen in the coming months due to the coronavirus epidemic.