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Belarusian Belvnesheconombank Assigned 'B/B' Ratings In Line With Sovereign; Outlook Negative
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
Belvnesheconombank is Belarus' sixth-largest bank by assets, with market shares of 2.0% by loans and 2.7% by deposits at year-end 2010. We consider Belvnesheconombank to be a strategically important subsidiary of Russia-based Vnesheconombank, given the parent's significant financial and operational support to Belvnesheconombank. We are assigning our 'B' long-term and 'B' short-term counterparty credit ratings to Belvnesheconombank. The negative outlook mirrors the outlook on Belarus, reflecting the country's low external liquidity, owing to a very high current-account deficit, which in turn presents risks for the predominantly state-controlled Belarusian economy and Belvnesheconombank. FRANKFURT (Standard & Poor's) April 28, 2011--Standard & Poor's Ratings Services said today that it had assigned its 'B' long-term and 'B' short-term counterparty credit ratings to Belarusian OJSC...
Companies mentioned in this report are: OJSC Belvnesheconombank
Action: New Rating
Action: Outlook: Negative
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