Wednesday, December 6 2017 16:10

ArmInfo.The international rating agency Fitch Ratings has assigned the long-term "B +" rating issued by the ACBA-Credit Agricole Bank's $ 5 million issued in 2017.   According to the press service of the Bank, the rating of these bonds  is equal to the "B +" rating assigned to the Bank by ACBA-Credit  Agricole with the forecast "Stable" (IDR - long-term debt issuer  rating).

According to the source,assigning  rating, Fitch took into account  ACBA-Credit Agricole's leading position in the agricultural loan  market, as well as a high level of liquidity and capitalization.

The rating assigned to the Bank by Fitch is considered to be the  highest for companies operating in Armenia, as the RA country rating  is also at the "B +" level.

The dollar tranche of bonds in the amount of $ 5 million. ACBA-Credit  Agricole Bank issued on August 18, 2017, setting a period of their  circulation of 30 months (2.5 years), coupon yield - 5.5%,  periodicity of coupon payments - every six months. Within the  framework of this tranche 50 thousand registered coupon bonds with  nominal value of $ 100 were issued. The initial placement of these  bonds ended on October 5, and on October 24 they were listed on the  NasdaqOMX Armenia exchange and included in the Abond list.  Fitch  Ratings assigned ACBA-Credit Agricole Bank a "B +" rating with a  stable outlook for June 2017, making this level a solid core of the  Bank's internal financial viability. This is the highest level of  rating, which can be appropriated to organizations / companies  functioning in Armenia. In fact, the bank is assigned a rating  similar to the country rating, which in world practice is considered  a high valuation. This Fitch Ratings assessment of ACBA-Credit  Agricole's activities confirms the leading position and transparency  of this financial structure.