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Fitch affirms Belarus’ Development Bank at 'B', revises outlook

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MINSK, 18 November (BelTA) - Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of the Development Bank of the Republic of Belarus (DBRB) at 'B' and revised the Outlook to Negative from Stable. The rating action reflects a similar rating action on Belarus' sovereign Long-Term IDRs, BelTA learned from the press release of the agency.

The propensity of the authorities to support the bank remains high, in Fitch's view, given the Development Bank’s exceptional systemic importance and policy role and the government's subsidiary liability on DBRB's bonds.

According to Fitch, DBRB does not attract customer deposits and its FX obligations are longer-term and so do not represent an immediate liquidity risk for the bank.

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