S&P lifts Eurasian Development Bank

S&P said it raised the long- and short-term issuer credit ratings on Eurasian Development Bank to BBB/A-2 from BBB-/A-3.

The outlook is stable.

The agency also said it affirmed the bank's kzAAA Kazakhstan national scale rating.

S&P also said it removed the ratings from under criteria observation, where they were placed in December 2018.

The stable outlook reflects our expectation that the bank will effectively manage anticipated growth without hampering its risk position, the agency said.

The ratings are based on the bank's very weak enterprise risk profile and extremely strong financial risk profile, S&P said.

The financial profile has strengthened since the agency recalibrated an approach to preferred creditor treatment, S&P said.

The bank's financial risk profile is now extremely strong, supported by strong internal capital generation and continued ability to attract financing, the agency said.

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