S&P affirms 'B' rating for Belarus' Development Bank
MINSK, 8 June (BelTA) - S&P Global Ratings has affirmed the rating of the Development Bank of Belarus at ‘B', BelTA learnt from the press service of the bank.
On 6 June S&P Global Ratings affirmed the Long- and Short-Term Issuer Credit Ratings of the Development Bank of Belarus at ‘В/В ' (Outlook Stable).
“The ratings of the Development Bank are totally aligned with the sovereign rating of Belarus. The agency emphasized in its release the close ties between the Development Bank and the Government of Belarus and the Bank's important role in financing state programs and investment projects as well as supporting and promoting exports,” the press service said.
Founded in 2011, the Development Bank of the Republic of Belarus is a specialized financial institution operating as a stock corporation. The founders of the bank are the Council of Ministers and the National Bank of Belarus. The bank is tasked with financing long-term and capital-intensive investment projects, state programs and activities.