Moody’s Investors Service, (“Moody’s”) today has reaffirmed Ardshinbank’s ratings and changed the outlook to “positive” from “stable”. Currently Ardshinbank is assigned the LT Bank Deposits (Local Currency) and the Senior Unsecured Regular Bond/Debenture “B1” ratings.
Moody’s provided rating rationale and in particular notes that by the results of 2017 year the Bank is one of the systemically important banks of Armenia. The rating action follows Moody's change of outlook on Armenia's sovereign rating to “positive” from “stable” on March 9, 2018, bank's press service reported.
Ardshinbank’s rating matches the one published for the Republic of Armenia, being the highest possible that an Armenian private entity can qualify for.
Ardshinbank is the only private entity in Armenia with assigned ratings from two international major rating agencies (Moody’s and Fitch).