Moody's rates Inecobank B1

Moody's Investors Service said it assigned B1 long-term and not-prime short-term local-currency bank deposit ratings to Inecobank CJSC, along with a B2 long-term and not-prime short-term foreign-currency bank deposit ratings, B1 baseline credit assessment and adjusted baseline credit assessment, Ba3 long-term and not-prime short-term counterparty risk ratings and Ba3(cr) long-term and not-prime(cr) short-term counterparty risk assessments.

The long-term deposit ratings have a stable outlook.

The ratings incorporate the B1 baseline credit assessment and reflects the bank's good loan book diversification, solid loss absorption capacity and good internal capital generation, Moody's said.

The ratings also consider its stable funding and ample liquidity, the agency said.

Moody's said it expects Inecobank's asset quality to remain broadly stable in the foreseeable future, supported by improving economic conditions in Armenia.

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