S&P affirms Belarusbank’s credits ratings at В/В, outlook negative
<p> MINSK, Jul 20 - PrimePress. S&P Global Ratings has affirmed the long-term and short-term credit ratings of Belarusbank, at ‘B/B’, outlook negative, the agency says in a report. </p> <p> </p> <p> The rating action follows the sanctions imposed on Belarus by the European Union. According to S&P analysts, Belarusbank will be able to cope with the impact of the sanctions due to its low dependence on funding raised in the EU open markets and a relatively low share of loans to companies hit by the sanctions. </p> <p> </p> <p> The Negative Outlook for Belarusbank’s credit ratings reflects a similar outlook for sovereign ratings. </p> <p> </p> <p> As previously reported, S&P affirmed on June 30 the long-term and short-term sovereign credit ratings of Belarus in foreign and local currencies at ‘B’, outlook negative. </p> <p> </p> <p> On June 25, 2021, the EU imposed sanctions on the major sectors of the Belarusian economy, including the termination of cooperation between the European Investment Bank and the public sector of Belarus, limitations on the participation of the EU countries in the Belarusian banking sector and access to the EU capital market and insurance services. Also, the EU prohibited EU entities and individuals from purchasing, selling, and provide investment services for or assistance in the issuance of, or otherwise deal with transferable securities and money-market instruments with a maturity exceeding 90 days, issued after 29 June 2021. Securities of large credit institutions or other institutions with more than 50% state ownership or control as of 29 June 2021 are also prohibited. The ban also affects bonds issued by major credit or other institutions established in Belarus with over 50% public ownership or control as of 29 June 2021. </p> <p> </p> <p> Belarusbank, Belarus’ largest bank, was founded in July 1991 and transformed in October 1995 through merger with Sberbank of Belarus. The government stake in the bank's authorized capital is 99.95%. End </p> <p> </p>
2021-07-21
Primepress
S&P affirms Belarusbank’s credits ratings at В/В, outlook negative
MINSK, Jul 20 - PrimePress. S&P Global Ratings has affirmed the long-term and short-term credit ratings of Belarusbank, at ‘B/B’, outlook negative, the agency says in a report.
The rating action follows the sanctions imposed on Belarus by the European Union. According to S&P analysts, Belarusbank will be able to cope with the impact of the sanctions due to its low dependence on funding raised in the EU open markets and a relatively low share of loans to companies hit by the sanctions.
The Negative Outlook for Belarusbank’s credit ratings reflects a similar outlook for sovereign ratings.
As previously reported, S&P affirmed on June 30 the long-term and short-term sovereign credit ratings of Belarus in foreign and local currencies at ‘B’, outlook negative.
On June 25, 2021, the EU imposed sanctions on the major sectors of the Belarusian economy, including the termination of cooperation between the European Investment Bank and the public sector of Belarus, limitations on the participation of the EU countries in the Belarusian banking sector and access to the EU capital market and insurance services. Also, the EU prohibited EU entities and individuals from purchasing, selling, and provide investment services for or assistance in the issuance of, or otherwise deal with transferable securities and money-market instruments with a maturity exceeding 90 days, issued after 29 June 2021. Securities of large credit institutions or other institutions with more than 50% state ownership or control as of 29 June 2021 are also prohibited. The ban also affects bonds issued by major credit or other institutions established in Belarus with over 50% public ownership or control as of 29 June 2021.
Belarusbank, Belarus’ largest bank, was founded in July 1991 and transformed in October 1995 through merger with Sberbank of Belarus. The government stake in the bank's authorized capital is 99.95%. End