OREANDA-NEWS. February 19, 2008. Heretofore, Belagroprombank OJSC had international ratings assigned by International rating agency Fitch Ratings in 2004. The second international credit ratings by Moody’s Investors Service would allow foreign investors to receive the detailed information about Belagroprombank’s activities, reported the press-centre of Belagroprombank.

Moody’s Investors Service admitted high level of bank’s functioning during the first three quarters and assigned the following ratings:
Long-term foreign currency deposit rating В 2;
Short-term foreign currency deposit rating Not Prime;
Long-term local currency deposit rating Ва 1;
Short-term local currency deposit rating Not Prime;
Bank Financial Strength Rating Е +.
All of the bank’s ratings carry a stable outlook.

Belagroprombank’s E+ BFSR, which translates into a Baseline Credit Assessment of B2, is underpinned by the bank’s strong market position as the country’s second-largest bank having good capital adequacy, low level of delinquent loans and acceptable profitability.

The bank’s Ba1/Not-Prime long-term/short-term local currency deposit ratings factor in a very high probability of systemic support in the event of a stress situation given (a) the bank’s 90,8% direct ownership by the Belarus government, as well as (b) the bank’s strong position in the country’s banking system, represented by its 19% share of total assets and 11% share of retail deposits at the end of Q3 2007. As a result, this rating receives a four-notch uplift from the bank’s B2 Baseline Credit Assessment.

Belagroprombank’s B2 long-term foreign currency deposit rating is constrained by the relevant country ceiling for Belarus.

Assigned for Belagroprombank OJSC ratings are ceiling ones for Republic of Belarus.

Based in Minsk, Belarus, Belagroprombank reported total IFRS consolidated assets, shareholders’ equity and net income of US$2,89 billion, US$514 million and US$53,8 million, respectively, at the end of Q3 2007 (US$2,17 billion, US$408 million and US$43,5 million, respectively, at year-end 2006).