Announcement Regarding Recent BSTDB Ratings Withdrawal by Scope

News | 13-Dec-2023

The Black Sea Trade and Development Bank (BSTDB) wishes to clarify the situation with respect to the recent announcement by Scope Ratings GmbH (Scope) regarding the withdrawal of their ratings on the Black Sea Trade and Development Bank. Acknowledging the previous good and constructive cooperation with Scope and despite the fact that the rating started as unsolicited, BSTDB  was offered to continue the rating service on the basis of an “issuer pays” rating model.  After careful consideration, the Bank has chosen not to pursue this type of  arrangement with Scope, as it  believes that the current coverage provided by two other also well-established credit rating agencies is more than sufficient for its needs and stakeholders. We remain committed to maintaining our strong financial position and transparent communication with all our partners and customers.