Moody's Raises Ameriabank’s Rating to Ba3
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.
Ameriabank is a dynamically developing bank and one of the major and most stable financial institutions in Armenia. The first investment bank in Armenia, Ameriabank has been providing a large package of innovative banking services since 2007. Now Ameriabank CJSC is a universal bank offering corporate, investment and retail banking services in a comprehensive package of banking solutions. Ameriabank is the leading bank in Armenia as measured by all key financial indicators (assets, liabilities, loans portfolio, net profit and equity) as of June 30 2019. For further information, please visit www.ameriabank.am