Moody's Investors Service upgraded Ardshinbank's rating with Stable outlook. The following ratings are assigned to the bank: Ba3 for LT Bank Deposits (Local Currency), B1 for LT Bank Deposits (Foreign), Ba3 for Baseline Credit Assessment, Ba2 for Counterparty Risk Assessment.
Moody’s provided rating rationale, noting in particular that the upgrade of Ardshinbank’s Long-Term Local Currency Bank Deposits rating is based on the positive outlook for Ba3 rating of public debt. The upgrade of Ardshinbank’s long-term foreign currency deposit rating is driven by the bank's strengthened solvency profile. The improvements in solvency profile are reflected in the bank's declining problem loan ratio, improving profitability and strengthened capital position.
Ardshinbank is granted a rating equal to the sovereign rating of the Republic of Armenia, which is the best rating indicator for a private entity in the country.
For further information about Ardshinbank, please visit www.ardshinbank.am or call (012)22-22-22.