S&P affirmed Belarusbank’s credit ratings At 'B/B' Despite New EU Sanctions; Outlook remains Negative

S&P Global Ratings affirmed its «B/B» long- and short-term issuer credit ratings on Belarusbank. The outlook remains negative.

The rating action follows the EU’s introduction of further sanctions on Belarus. Analysts at the rating agency believe the impact of these sanctions will be manageable for Belarusbank, given the bank's low dependence on the EU wholesale funding and the relatively limited exposure of the loan book to sanctioned corporate entities.

S&P Global Ratings' negative outlook on Belarusbank mirrors that on the sovereign.

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