BELARUS NEWS AND ANALYSIS
DATE:
04/04/2011
Six Belarusian Banks Downgraded By Moody's
(RTTNews) - Moody's Investors Service on Monday lowered six Belarusian banks, citing the country's limited capacity to support its banking system.
Long-term foreign currency deposit ratings of Belarusbank, Belagroprombank, Belinvestbank, Belpromstroibank, Bank Moscow-Minsk and Minsk Transit Bank, are downgraded to B3 from B2.
The outlook on B3 long term foreign currency deposit ratings of all six rated banks is negative, driven by the negative outlook on foreign currency ceiling for Belarus, the rating agency said.
Moody's also downgraded to B2 from B1 the local-currency deposit ratings of the three state-owned banks - Belarusbank, Belagroprombank, Belinvestbank . Privately owned Bank Moscow-Minsk's local currency deposit rating was lowered to B1 from Ba3.
Meanwhile, local currency deposit rating of Belpromstroibank was affirmed at Ba3 and the local currency deposit rating of Minsk Transit Bank was affirmed at B2.
The outlooks on local currency deposit ratings of five banks are negative, whilst the outlook on Belpromstroibank is stable.
Moody's said the downgrade of the country's foreign-currency deposit ceiling to B3 from B2 affected the foreign currency deposit ratings of all rated banks. Moreover, last week's downgrade of Belarus government's debt rating to B2 from B1 reflects the negative impact of the country's limited capacity to support its banking system.
Source:
http://www.rttnews.com/Content/AllEconomicNews.aspx?Id=1590522&SM=1
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