Moody's has reviewed and raised the following ratings of Ameriabank CJSC:
B1 to Ba3 for long-term local currency bank deposits
B2 to B1 for long-term foreign currency bank deposits
Ba3 to Ba2 for long-term counterparty risk (CRR)
This follows the upgrade of Armenia's sovereign rating to Ba3 (stable outlook) from B1 (positive outlook) on 27 August 2019.
The upgrade of Ameriabank's long-term local currency deposit rating to Ba3 from B1 was driven by the upgrade of its Baseline Credit Assessments (BCAs) to ba3 from b1. The upgrade of the bank's BCA to ba3 reflects a combination of improved Armenian banking system's Macro Profile and the bank's consistently sound financial metrics such as:
. Historically strong asset quality indicators,
. Its strong capital position,
. Robust profitability metrics, and
. Sufficient liquidity and diversified funding base.