S&P affirms Belarus Development Bank’s credit rating at 'B/B'; Outlook Stable
<p> MINSK, Jun 25 - PrimePress. S&P Global Ratings on June 23 affirmed its 'B/B' long- and short-term foreign and local currency issuer credit ratings on Development Bank of the Republic of Belarus JSC (DBRB). The outlook is stable. </p> <p> </p> <p> S&P experts equalize their ratings on DBRB with those on Belarus. In their view, there is an almost certain likelihood that government would provide DBRB with timely and extraordinary support sufficient to service the bank's financial obligations, if needed. The estimates by S&P analysts are based on the fact that the Development Bank of the Republic of Belarus (DBRB) has an integral link with and critical role for the government of Belarus given that it implements a number of priority state projects. </p> <p> </p> <p> S&P experts point out that as of year-end 2019, DBRB's total assets were equivalent to 7% of GDP and constituted 12% of the banking system's assets. </p> <p> </p> <p> S&P Global Ratings (S&P) - one of the the Big Three credit rating agencies (besides Moody's, and Fitch Group) – specializes in assigning short-term and long-term credit ratings to different countries of the world, as well as to large companies, reflecting their level of solvency. </p> <p> </p> <p> DBRB was established in 2011, following the International Monetary Fund's recommendation on reforming Belarus' banking sector, which had been heavily involved in directed, subsidized lending under vaguely defined government programs. The bank's initial objective was to centralize lending under such programs, thereby enabling state-owned commercial banks to function on market terms. End </p> <p> </p>
2020-06-26
Primepress
MINSK, Jun 25 - PrimePress. S&P Global Ratings on June 23 affirmed its 'B/B' long- and short-term foreign and local currency issuer credit ratings on Development Bank of the Republic of Belarus JSC (DBRB). The outlook is stable.
S&P experts equalize their ratings on DBRB with those on Belarus. In their view, there is an almost certain likelihood that government would provide DBRB with timely and extraordinary support sufficient to service the bank's financial obligations, if needed. The estimates by S&P analysts are based on the fact that the Development Bank of the Republic of Belarus (DBRB) has an integral link with and critical role for the government of Belarus given that it implements a number of priority state projects.
S&P experts point out that as of year-end 2019, DBRB's total assets were equivalent to 7% of GDP and constituted 12% of the banking system's assets.
S&P Global Ratings (S&P) - one of the the Big Three credit rating agencies (besides Moody's, and Fitch Group) – specializes in assigning short-term and long-term credit ratings to different countries of the world, as well as to large companies, reflecting their level of solvency.
DBRB was established in 2011, following the International Monetary Fund's recommendation on reforming Belarus' banking sector, which had been heavily involved in directed, subsidized lending under vaguely defined government programs. The bank's initial objective was to centralize lending under such programs, thereby enabling state-owned commercial banks to function on market terms. End