The international agency S&P Global Ratings has affirmed Belarusbank's B/B credit ratings upon revision of rating assessment criteria for financial institutions. Rating action outlook has remained Negative.
The agency underlined that the superior business position of Belarusbank in its domestic market is a rating strength versus domestic peers.
According to the analysts, Belarusbank's ratings reflect its high dependence on volatile macroeconomic conditions, as well as on the ongoing and extraordinary capital and liquidity support from the state. The agency views the sovereign's creditworthiness as the main constraint on upgrading the bank's ratings.
The Negative outlook on Belarusbank mirrors that on the sovereign.
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