Belarusbank considers Moodys assesment incorrect and biased (press release)

Following the decision of Moody's Investors Service to review for downgrade the long-term ratings of six Belarusian banks (Belarusbank, Belagroprombank, Belinvestbank, BPS-Sberbank, MTBank, Delta Bank), Belarusbank announces the following.

On September 26, 2011 Belarusbank terminated the rating assignment agreement with Moody's Investors Service. Moody’s has no access to Belarusbank’s unpublished information which the bank discloses to other rating agencies. Therefore it doesn’t’ have full information to objectively assess the financial standing of the bank. In this connection, Belarusbank views Moody’s assessment as incorrect and biased.

Belarusbank continues to receive international credit ratings from two international agencies, namely Fitch Ratings (B-/B/ Stable outlook) and Standard&Poor’s (B-/C/ Stable outlook).

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