BSTDB’s Credit Rating Upgraded to “A” by Standard and Poor’s
Press Release | 25-Nov-2021
Today the Black Sea Trade and Development Bank (BSTDB) received an upgrade of its long- and short-term issuer credit ratings from the S&P Global Ratings to 'A/A-1' from 'A-/A-2'. The outlook is stable.
The credit rating agency stated that the upgrade reflects the BSTDB’s confirmed policy relevance, illustrated by solid loan book growth over the past three years and a recent decision from shareholders to inject new capital. S&P notes BSTDB’s resilient and very strong financial risk profile, and the fact that the financial repercussions of the pandemic have only a mild impact on the Bank’s asset quality.
“This is the first full notch upgrade received by BSTDB in almost a decade and, given that it occurred during the current period of unprecedented global social and economic turmoil, reflects very positively on the Bank and sets a strong foundation for its future growth” - stated Dmitry Pankin, BSTDB President.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The BSTDB headquarters are 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 EUR 3.45 billion. BSTDB is rated long-term “A” by Standard and Poor’s, “A2” by Moody’s and “A+” by the Russian credit rating agency ACRA. For information on BSTDB, visit www.bstdb.org.
Phone: +30 2310 290533
Twitter: @BSTDB; @Haroulax