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The affirmation of the IDRs reflects limited changes to Fitch's view of the probability of extraordinary support for BBK, BIB and DBRB from the authorities of the Republic of Belarus (B/Stable).
It also factors in the banks', in particular BBK's, high systemic importance; the banks policy roles (legally defined for DBRB but also significant at BBK); the government's subsidiary liability on DBRB's bond obligations; and a track record of support made available in various ways (equity injections, buy-out of bad loans, provision of liquidity, etc.) to these banks to date.
The investment amount will be loaned; with easy payment terms; to the DBRB for purposes of funding creative SMEs in Belarus to support the economic development in the country.
Our view is based on majority state ownership (State Property Committee of the Republic of Belarus owns 98.76% in BBK and 97.48% in BIB and Council of Ministers of Belarus owns 95.473% in DBRB) and supervision by senior state officials through supervisory board representation.
The upgrade of BBK's, BIB's and DBRB's IDRs and Support Ratings reflects the improvement in the ability of the Belarusian authorities to support these banks, in case of need, as reflected in the upgrade of the sovereign's ratings.
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