Moody's affirms Converse Bank's ratings and changes outlook to positive from stable
July 30, Yerevan - Moody's Ratings has affirmed Converse Bank's long-term deposit ratings at Ba3 and changed the outlook to positive from stable. At the same time, the agency affirmed all of the Bank's ratings, including its ba3 Baseline Credit Assessment (BCA) and Adjusted BCA.
The change in the outlook follows the revision of the outlook on the Government of Armenia to positive from stable and reflects Moody's assessment of the improvement in the country's macroeconomic and operating environment.
According to Moody's, the positive outlook reflects the government's improving capacity to support the banking system and the country's largest banks, if needed, as well as improving operating environment.
The affirmation of Converse Bank's ba3 BCA reflects the agency's expectation that the Bank will preserve its robust credit metrics over the next 12–18 months.
According to Moody's, Converse Bank's ba3 BCA is supported by its strong loss-absorption capacity, stable funding profile, robust liquidity and strong capitalization.
Moody's press release is available here.
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Converse Bank is supervised by the CBA.
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