Fitch Affirms Belgazprombank at “B”

Fitch Ratings has affirmed Belgazprombank's “B” Long-Term Issuer Default Rating (IDR) with Negative Outlook removing the bank’s ratings from Rating Watch Negative.

Thus, currently the bank enjoys the highest ratings possible for Belarusian issuers capped by the country ceiling “B”.

The rating action followed the termination of the temporary administration at the bank. It reflects Fitch's view that the propensity of Belgazprombank's owners (PJSC Gazprom (BBB/Stable) and Gazprombank (Joint-stock Company) (BBB-/Stable), each holding a 49.82% stake) to provide support to the bank, if needed, remains high considering the strategic importance of the Belarusian market and a record of support provided to date.

The rating actions in relation to Belgazprombank are as follows:

• Long-term IDR affirmed at “B”, Outlook Negative; 
• Short-term IDR affirmed at “B”;
• Support Rating affirmed at “4”;
• Viability Rating affirmed at “b”.

For more details, please visit the Fitch Ratings’ official site.