• SELECT SITE CURRENCY
Select a currency for use throughout the site
Ratings On Four Belarusian Banks Lowered To 'B-/C' Following Sovereign Downgrade; Outlook Negative Oct 11
Standard & Poors, October 2011
On Sept. 26, 2011, we lowered the foreign currency sovereign credit ratings on the Republic of Belarus to 'B-/C'. In our view, sovereign risk is a key factor influencing the financial strength of Belarusian banks because of the predominance of state-owned companies and the government in the banks' lending and funding operations. We are therefore lowering our ratings on Belarus-based JSC Savings Bank Belarusbank, OJSC Belvnesheconombank, JSC BPS-Bank, and Belagroprombank JSC to 'B-/C' from 'B/B'. We are also removing the ratings from CreditWatch negative. The negative outlook on the banks mirrors that on Belarus and reflects the country's low external liquidity, owing to very high current account deficits, which in turn presents risks for Belarus' predominantly state-controlled banking sector and...
Companies mentioned in this report are: JSC Savings Bank Belarusbank,JSC BPS-Bank,Belagroprombank JSC,OJSC Belvnesheconombank
Action: Outlook: Negative
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.
JSC Savings Bank Belarusbank,JSC BPS-Bank,Belagroprombank JSC,OJSC Belvnesheconombank