Moody’s acts on Armenian banks

Moody’s Investors Service said it upgraded the long-term foreign-currency unsecured debt rating of Ardshinbank CJSC.

In addition, the agency changed the outlooks on Ameriabank CJSC, Ardshinbank and Converse Bank to stable from positive.

The ratings changes come after Moody’s upgraded Armenia’s sovereign rating to Ba3 from B1 with stable outlook.

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