An agreement has been recently signed between the RA Ministry of Finance and “Standard & Poor's” credit rating agency in the framework of Capital Market Development Program approved by the Resolution No. 1202-L of the Government of the Republic of Armenia, dated July 16, 2020, whereby the “Standard & Poor's” credit rating agency also will award the Republic of Armenia sovereign rating.
It should be noted that to date, Armenia has been awarded credit rating by Fitch and Moody’s rating agencies.
At the same time, cooperation with Standard and Poor's will enable the relatively small local organizations to use the agency's rating services, also considering that obtaining sovereign rating by Armenia will reduce the costs of obtaining a rating for private sector organizations.