Business news

MINSK, 13 July (BelTA) - Fitch Ratings has affirmed Belarusbank's (BBK), Belinvestbank's (BIB) and Development Bank of the Republic of Belarus's (DBRB) Long-Term Issuer Default Ratings (IDRs) at 'B-' with Stable Outlooks, reads the statement on the website of the rating agency, BelTA has learned.

“The Long-Term IDRs, Support Ratings and Support Rating Floors are underpinned by potential state support, in case of need, and are dependent on the level of the sovereign rating (B-/Stable). Support considerations take into account the banks' state ownership and government control. We also consider the banks' systemic importance, the policy roles as the country's largest providers of government program lending backed by dedicated government funding,” Fitch Ratings said.

At the same time, the ratings remain vulnerable to the sovereign's credit profile, the agency noted.

Fitch Ratings Inc., an American Corporation, makes part of the big three international rating agencies, along with Standard Poor's and Moody's.