S&P puts Black Sea bank on watch

S&P said it placed its A- ratings on Black Sea Trade and Development Bank (Bstdb) and its debt facilities on CreditWatch with negative implications.

“Bstdb is currently experiencing restricted access to funding markets, with any potential issuance likely carrying a high premium. The negative CreditWatch reflects our concerns that the bank's challenges to its funding profile could worsen liquidity pressures ahead of its large Eurobond maturity, or lead to an extended period of subdued lending, raising questions about its longer-term policy importance,” S&P said in a press release.

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