International Fitch Rating Agency (Fitch Ratings) has assigned long-term rating of “B+” and recovery rating of “RR4” to the AMACBAB21ER0 senior unsecured USD 5 million bonds of ACBA-CREDIT AGRICOLE BANK CJSC issued on the 18th of August, 2017.
Issued bonds rating is equalized with the Long-Term Issuer Default Rating (IDR) of 'B+' with Stable Outlook assigned to ACBA-CREDIT AGRICOLE BANK earlier in May.
The Fitch Ratings based its assessment on ACBA-CREDIT AGRICOLE BANK’s absolute leading position in financing Armenia’s agricultural sector, the saturation of the infrastructure, including the presence of branches in all regions of the country, as well as the high level of capitalization and liquidity.
The rating assigned by Fitch Ratings to the bank is the highest for companies in Armenia.
The issued bonds have 5.5% yield and maturing period by 2020.