S&P turns Eurasian Development view to stable

S&P said it revised the outlook for the Eurasian Development Bank to stable from negative and affirmed the BBB ratings on the issuer and its senior unsecured bonds.

“The outlook revision reflects our view that the pressure on EDB's capital position has now abated. Our capital ratio (after making adjustments specific to multilateral lending institutions [MLIs]) will likely remain in the range of 15%-23% in the next 24 months. We base this assumption under our expectation of moderate loan portfolio growth in the forecast period,” the agency said in a press release.

However, S&P noted that the still high concentration of the assets in Russia and Kazakhstan continues to put substantial pressure on the risk-adjusted capital ratio.

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