Fitch Ratings has affirmed the Long-term Issuer Default Ratings (IDR) of Belgazprombank at 'B-' with Stable Outlook.
Fitch Ratings notes continued strong commitment of the Russian owners of Belgazprombank (jointly owned by OAO Gazprom (BBB-/Negative) and Gazprombank; (BB+/Negative)) to the Belarus market evidenced by provision a subordinated loan in the amount equivalent to USD 150 million to the Bank in the 1st quarter 2015.
Support from the Russian parents has been forthcoming so far and Fitch believes it will be made available in the future in case of need.
In relation to Belgazprombank the rating actions are as follows:- Long-term IDR: affirmed at 'B-'; Outlook Stable
- Short-term IDR: affirmed at 'B'
- Viability Rating: affirmed at 'b-'
- Support Rating: affirmed at '5'