Moody’s ups four Belarusian banks

Moody's Investors Service said it upgraded the ratings of four Belarusian banks following the March 16 upgrade of Government of Belarus to B3 from Caa1.

The agency upgraded the long-term local-currency deposit ratings of Belarusbank, Belagroprombank JSC and Belinvestbank to B3 from Caa1, and for BPS-Sberbank to B2 from B3.

At the same time, Moody's upgraded the baseline credit assessments of two Belarusbank and BPS-Sberbank to b3 from caa1 and affirmed the BCAs for the other two banks at caa1.

The agency upgraded the long-term foreign-currency deposit ratings of all four banks to Caa1 from Caa2 following the change in the country's foreign-currency deposit ceiling. The foreign-currency deposit ratings of the banks continue to be constrained by the country's foreign-currency bank deposit ceiling.

Concurrently, all the long-term bank deposit ratings carry a stable outlook.

Moody’s said the actions on the Belarus banks were driven by improved operating environment, reflected in the sovereign ratings and ceilings upgrade, as well as by the agency's revision of Belarus banking system's macro profile to "very weak+" from "very weak."

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