Moody’s gives Ardshinbank notes Ba3

Moody’s Investors Service said it assigned Ba3 long-term global foreign-currency debt rating to the proposed five-year dollar-denominated senior unsecured notes of CJSC Ardshinbank.

The notes will be sold by Dilijan Finance BV to finance a loan to Ardshinbank.

“The Ba3 senior unsecured debt rating assigned to the proposed notes is in line with Ardshinbank’s local-currency deposit rating and is based on the bank’s baseline credit assessment (BCA) of ba3 and Moody’s assessment of a high probability of support from the government of Armenia (Ba3 stable), which, however, results in no rating uplift,” said Moody’s in a press release.

The outlook is stable.

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