Fitch Ratings has assigned the long-term rating "B +" to the bonds of ACBA-Credit Agricole Bank

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.