OREANDA-NEWS. Fitch Ratings has today revised the Outlook on VTB Bank (Armenia)'s ("VTBA") Foreign and Local Currency Issuer Default ratings ("IDR") to Positive from Stable.

Its ratings are affirmed at Foreign and Local Currency IDR 'BB', Short-term Foreign and Local Currency 'B', Individual 'D/E' and Support '3'.

The revised Outlook reflects the recent change in the Outlooks of Armenia's Foreign and Local Currency IDRs to Positive from Stable. The IDRs were affirmed at 'BB-' (BB minus).

Were the sovereign ratings to be upgraded, this would be likely to signal a reduction in Armenian country risks, in particular transfer and convertibility risks, which at present constrain VTBA's ratings.