Business news

MINSK, 12 October (BelTA) - S&P Global Ratings raised its long-term credit ratings on the Development Bank of the Republic of Belarus (DBRB) to 'B', affirmed its 'B' short-term rating. The outlook is stable, reads the press release of the rating agency.

The upgrade follows the upgrade of the long-term sovereign credit ratings on Belarus to 'B'. S&P Global Ratings said it expects that the government support will remain at a high level in view of the DBRB’s critical public role as the main institution providing long-term capital-intensive loans under government programs in Belarus.

As of middle 2017, DBRB's total assets were equivalent of 5.5% of GDP and constituted close to 9% of total banking system assets.