Saturday, May 12 2012 15:45

Central Bank of Armenia raises the ratings of 3 companies


ArmInfo. The Central Bank of Armenia (CBA) has raised the ratings of 3 companies by 1 point. The CBA press service told ArmInfo that the ratings of Elite Group CJSC and Glendale Hills CJSC have been raised to "G" (3rd letter of the Armenian alphabet) versus "G-" awarded on 12 May 2011; the rating of IMEX Group LLC has been raised to "B-" (2nd letter of the Armenian alphabet) versus "G+" awarded on 25 Feb 2011.

In the meantime, the CBA has retained the ratings of 2 companies at the same level, namely, Antares LLC ("G", the 3rd letter of the Armenian alphabet, awarded on 25 Feb 2011) and Star Divide CJSC ("G-", awarded on 23 Apr 2010).

To note, a year before the ratings of Elite Group CJSC and Glendale Hills CJSC were reduced by 1-2 points: from "G" to "G-" for Elite Group LLC, and from "G+" to "G-" for Glendale Hills CJSC.

According to the most recent data, the CBA awarded ratings to 41 companies, the highest rating among them ("B", the second letter of the Armenian alphabet) belongs to Renco ArmEstate LLC. Four companies with "B-" rank next: Euroterm CJSC, Yerevan Hotel OJSC, IMEX Group LLC, and ArmRusgasprom CJSC. Eight more companies have a "G+" rating (3rd letter of the Armenian alphabet), among them Armenian Molybdenum Production LLC and Pure Iron Plant OJSC.
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