BSTDB receives A/A1 ratings from Standard and Poor’s

Press Release | 16-Jun-2011

Standard & Poor’s (S&P) have today assigned to Black Sea Trade & Development Bank (BSTDB) initial issuer credit ratings of A long term and A1 short term, with a stable outlook.

The credit rating agency said that the ratings reflect BSTDB’s strong capitalization and liquidity, historically well-performing loan portfolio and continuing strong support from its shareholders.

“We are confident that these additional ratings - higher than that of any of the Bank’s shareholding countries - will increase BSTDB's ability to access international capital markets on competitive terms, thus facilitating the implementation of our developmental mandate in the region” stated Andrey Kondakov, BSTDB President.

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The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters is in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is SDR 3 billion (approx. USD 4.75 billion). BSTDB is rated A3/P2 by Moody’s.

Press Contact

Haroula Christodoulou

Tel: +30 2310 290533

Email: cchristodoulou@bstdb.org