Armenia`s Central Bank governor does not believe that the downgrade of the ENA rating could affect Armenia`s financial system stability

ArmInfo. Martin Galstyan,  the Chairman of the Central Bank of Armenia, expressed hope that the  uncertainty surrounding  Electric Networks of Armenia (ENA), which  was forcibly nationalized by the authorities, will be eliminated in  the near future. During his press conference on September 16, he  noted that the downgrade of the company's rating by Moody's will be  short-term and will not affect the stability of Armenia's financial  system.

 Let us recall that the international rating agency Moody's Investors  Service has downgraded the long-term corporate rating (CFR) of the  Electric Networks of Armenia company (ENA) from Ba2 to Ba3, and the  probability of default rating (PDR) from Ba2-PD to Ba3-PD with a  "negative" outlook.