The international rating agency Moody's has confirmed the long-term deposit rating of Convers Bank at "Ba3" and upgraded the outlook from "Stable" to "Positive".
According to the statement from Convers Bank, all current ratings of the Bank have also been confirmed, including the baseline credit assessment (BCA) and the adjusted BCA at ba3.
The change in the rating outlook followed the upgrade of Armenia's sovereign rating outlook from "Stable" to "Positive" and reflects Moody's assessment of the improvement in the macroeconomic and political environment in the country.
Moody's notes that the "Positive" outlook for the long-term deposit ratings of Convers Bank is due to the increased ability of the Armenian government to support the banking system and large banks if necessary.
At the same time, Moody's Ratings confirmed the ba3 BCA assessment of Convers Bank, noting that the Bank will maintain its strong financial positions over the next 12-18 months.
