The rating action follows the Fitch's upgrade of Belarus’s sovereign Long-term IDRs and Country Ceiling to ‘B’ from ‘B-‘.
At present IDRs of Belgazprombank enjoying support from its higher-rated Russian parents (PJSC Gazprom (BBB-/Positive) and Gazprombank (Joint Stock Company) (BB+/Positive)) is sensitive to the country ceiling and, as Fitch reports, could be further upgraded following the agency’s positive decision towards Belarus in future.
The rating actions are as follows:
Long-Term Foreign Currency IDRs upgraded to 'B' from 'B-', Outlook Stable
Short-Term IDRs affirmed at 'B'
Support Ratings upgraded to '4' from '5'
Viability Ratings: 'b-', unaffectedFor more detailed information see the official website of Fitch Ratings at https://www.fitchratings.com.