Fitch back to Iran

Fitch Ratings Back to Iran/ Iran’s Economy Will Be Rated

Iran is in talks with Moody’s Investors Service and Fitch Ratings about restarting sovereign credit ratings for the oil-rich state, Economic Affairs and Finance Minister Ali Tayyeb Nia said in interview with Bloomberg.

According to data compiled by Bloomberg, Fitch withdrew its B+ sovereign rating, the fourth-highest junk grade, for Iran in 2008 following the maturity and full repayment of its last sovereign Eurobond that year. Moody’s withdrew its B2 rating on Iran in 2002.

Fitch has resumed reviewing Iran’s development and changes in financial and banking sectors and, more generally, Iran’s Macroeconomic conditions; according to Mr. Komeyjani’s interview with Khabaronline.

He also added that European and Asian Banks are among the biggest rebounders. Additionally, some small and medium-sized existing banks have expanded their activities in Iran.

It is estimated that Iran’s economic growth rate in the current year will amount to 4 to 4.5% which are approximately in line with IMF’s predictions.