YEREVAN, June 5 (RIA Novosti) - International rating agency Fitch said Monday it had assigned Armenia foreign and local currency issuer default ratings of BB- with a stable outlook.
The agency also assigned the country a short-term rating of B, and a country ceiling of BB-.
David Riley, Managing Director of Fitch's Sovereigns Group, said: "Armenia's sovereign credit ratings are supported by prudent macroeconomic policies and a declining public and external debt burden that compares favorably with rated peers."
He said the country's impressive economic performance had been underpinned by a robust and coherent macroeconomic policy framework, and wide-ranging structural reforms that had enhanced the capacity of the economy to absorb adverse shocks.
