Fitch Ratings places Belgazprombank’s ratings on watch

Press office.

Fitch Ratings has kept Belgazprombank’s ratings unchanged placing them on watch. The action follows the decision of the National Bank of the Republic of Belarus to introduce on 15 June 2020 (for a maximum six months) the temporary administration at Belgazprombank and suspension of powers of the management board of Belgazprombank for the period of the temporary administration.

Fitch Ratings places Belgazprombank’s ratings on watch

The ratings of Belgazprombank remain at the highest possible level for issuers from Belarus which is capped by the “B” Country Ceiling:

  • Long-term IDR “B”;
  • Short-term IDR “B”;
  • Support Rating “4”;
  • Viability Rating “b”.

The National Bank of the Republic of Belarus has confirmed its readiness to provide liquidity support to Belgazprombank in foreign and national currency in case of need. 

The bank’s ratings on watch could be removed if both (i) the period of the temporary administration is short-lived and does not result in significant erosion of the bank’s standalone credit profile; (ii) Belgazprombank’s owners regain control of the bank and retain their commitment to the market and to supporting Belgazprombank, if needed. 

For more details please visit Fitch Ratings webpage.
Press office.
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.

On 8 December 2020 the Board of Directors of Belgazprombank unanimously adopted a decision to introduce changes to the Management Board of the bank (the decision executed by the Minutes No. 4 as of 8 December 2020).

On 31 August, Belgazprombank finalized its IFRS financial statements (unaudited) for a 6-month period ended 30 June 2020.

Fitch Ratings affirmed Belgazprombank’s Long-Term Issuer Default Rating (IDR) at 'B' with Stable Outlook.

The General Shareholders Meeting of Belgazprombank was held on 27 March 2020 and approved the bank’s 2019 performance results. The difficult epidemiological situation in the world caused by the coronavirus pandemic has made its adjustments. The meeting was held using a video conference system.

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