International Fitch Ratings agency has assigned ACBA – CREDIT AGRICOLE BANK CJSC (ACBA)'s USD 5m issue of fixed-rate senior unsecured notes Long-term rating of 'B+'.
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.
In determining the rating of the bank Fitch Ratings took into account the bank's leading position in financing Armenia’s agricultural sector, 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 until 2020.