The rating of Armeconombank given by Fitch Ratings has been improved

Fitch Ratings, an international rating agency, has upgraded the rating respective of Armeconombank from “Stable” to “Positive” and reconfirmed Long-Term Foreign-Currency Issuer Default B class Rating(Long-Term Foreign-Currency Issuer Default Rating (IDR)).

“The improvement of the rating outlook is due to the improvement of the RA sovereign rating and positive economic conditions. As a result of these positive developments a sustained strengthening of the bank’s financial profile, in particular profitability, capitalization, funding and liquidity is anticipated” specified in the bank’s statement.