Fitch affirms Belarus Development Bank’s IDR at ‘B’, Outlook Negative
<p> MINSK, May 19 - PrimePress. Fitch Ratings on 18 May 2021 affirmed the long-term issuer default rating (IDR) of the Development Bank of the Republic of Belarus at "B" with a "Negative" outlook. </p> <p> </p> <p> Reportedly, Fitch notes the exceptional systemic role and importance of the Development Bank and maintains the view that there is a high probability of support for the bank by the state, if necessary, including through subsidiary responsibility for bond obligations of the Development Bank. </p> <p> </p> <p> As previously reported, Fitch Ratings on 12 May 2021 affirmed the long-term foreign currency IDR of Belarus at "B" with a "Negative" outlook. </p> <p> </p> <p> The Development Bank of the Republic of Belarus was established in 2011 by presidential decree No.261 of June 21, 2011 to increase the efficiency of projects included in government programs, reduce the time of their implementation and cost recovery. It finances government programs on its own behalf and at its own expense on terms of urgency, payment and repayment. The state holds 96.224% in the bank’s statutory capital. End </p>
2021-05-20
Primepress
Fitch affirms Belarus Development Bank’s IDR at ‘B’, Outlook Negative
MINSK, May 19 - PrimePress. Fitch Ratings on 18 May 2021 affirmed the long-term issuer default rating (IDR) of the Development Bank of the Republic of Belarus at "B" with a "Negative" outlook.
Reportedly, Fitch notes the exceptional systemic role and importance of the Development Bank and maintains the view that there is a high probability of support for the bank by the state, if necessary, including through subsidiary responsibility for bond obligations of the Development Bank.
As previously reported, Fitch Ratings on 12 May 2021 affirmed the long-term foreign currency IDR of Belarus at "B" with a "Negative" outlook.
The Development Bank of the Republic of Belarus was established in 2011 by presidential decree No.261 of June 21, 2011 to increase the efficiency of projects included in government programs, reduce the time of their implementation and cost recovery. It finances government programs on its own behalf and at its own expense on terms of urgency, payment and repayment. The state holds 96.224% in the bank’s statutory capital. End