BELARUS NEWS AND ANALYSIS
DATE:
18/02/2008
Belarus' Belagroprombank assigned 'E+' BFSR with stable outlook - Moody's
MUMBAI (Thomson Financial) - Moody's Investors Service said it has assigned an 'E+' bank financial strength rating with a stable outlook supported by the bank's strong market position.
The agency also assigned a 'Ba1' long-term and Not-Prime short-term local currency deposit ratings, and 'B2' long-term and Not Prime short-term foreign currency deposit ratings to Belarus' Belagroprombank.
All the ratings carry a stable outlook.
Moody's (nyse: MCO - news - people ) said the 'E+' BFSR is underpinned by the Belagroprombank being the country's second-largest bank by assets, capital and retail deposits, as well as good capital adequacy, a low level of delinquent loans and acceptable profitability.
It added the rating is constrained by the bank's fairly weak corporate governance due to the high level of government interference in the bank's business, as well as a very large exposure to the agricultural sector.
Belagroprombank's 'B2' long-term foreign currency deposit rating is constrained by the foreign currency country ceiling for Belarus, Moody's said.
Source:
http://www.forbes.com/markets/feeds/afx/2008/02/18/afx4665738.html
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