OREANDA-NEWS. Fitch Ratings has today assigned VTB Bank (Armenia) ("VTBA") local currency ratings of Issuer Default 'BB' and Short-term 'B'. The Outlook is Stable.

The assigned ratings are aligned with the bank's foreign currency Issuer Default 'BB' and Short-term 'B' ratings.

The local currency ratings reflect the moderate probability of support being forthcoming, if required, from VTBA's majority shareholder, Russia's Vneshtorgbank ("VTB", Issuer Default 'BBB+'), but also take into account Armenian country risks.