S&P Global Upgrades BSTDB to BBB+; Moody’s Revises Outlook to Positive
Two positive rating actions reflect BSTDB’s strengthened funding profile, broader market access and solid capital and liquidity position
The Black Sea Trade and Development Bank (BSTDB) has received two positive rating developments, with S&P Global Ratings upgrading the Bank’s long-term issuer credit rating to BBB+ and Moody’s Ratings revising its outlook to positive.
S&P Global Ratings upgraded BSTDB’s long-term issuer credit rating to BBB+ from BBB, with stable outlook, while affirming the Bank’s A-2 short-term rating. S&P cited BSTDB’s strengthened and more diversified funding profile, solid capital and liquidity position, providing sufficient capacity to support renewed growth in its lending trajectory. The agency assessed the Bank’s financial risk profile as extremely strong.
Moody’s Ratings revised BSTDB’s outlook from stable to positive, while affirming the Bank’s Baa2 long-term issuer and senior unsecured debt ratings. Moody’s said the positive outlook reflects strong capital adequacy and improving liquidity and funding profiles. The agency also noted the gradual easing of legacy asset-quality pressures and the further strengthening of capital adequacy through the capital increase approved by shareholders in 2024.
Dr. Serhat Köksal, President of BSTDB, said: “These rating actions are important external recognition of the progress BSTDB has made in strengthening its financial position and broadening its market access. As the Bank enters its next phase of growth, we will remain focused on financial discipline, prudent risk management and supporting high-quality operations that advance economic development and regional cooperation across our member countries.”
The stronger rating profile supports market confidence in BSTDB and reinforces the Bank’s capacity to mobilize funding for sound operations across its member countries.
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 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. For information on BSTDB, visit www.bstdb.org.
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