Fitch Ratings affirmed Belgazprombank’s Long-Term Issuer Default Rating (IDR) at 'B' with Stable Outlook.
The affirmation of the IDR reflects Fitch's view of potential support Belgazprombank could receive, if required, from its shareholders (PJSC “GAZPROM” and Bank GPB (JSC)) due to the strategic importance of the Belarusian market and close political and economic ties between the two countries.
Further increase of Belgazprombank’s Long-Term IDR is capped by Country Ceiling.
The bank’s ‘b’ Viability Rating, which has also been affirmed, reflects Belgazprombank's reasonably stable and profitable financial performance indicators under current circumstances, traditional loan-quality, as well as its solid headroom of core capital.
The rating actions in relation to Belgazprombank are as follows:
- Long-term IDR affirmed at 'B', Outlook Stable;
- Short-term IDR affirmed at 'B';
- Support Rating affirmed at '4';
- Viability Rating affirmed at 'b'.