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Moody`s downgrades ratings of six Belarusian banks

Moody`s Investors Service on April 4 downgraded to B3 from B2 the long-term foreign currency deposit ratings of six Belarusian banks, including Belarusbank, Belahraprambank, Belinvestbank, Belprambudbank, Bank Moscow-Minsk and Minsk Transit Bank.

Moody`s also downgraded to B2 from B1 the local currency deposit ratings of state-owned banks Belarusbank, Belahraprambank, Belinvestbank, and to B1 from Ba3 the rating of privately owned Bank Moscow-Minsk. The local currency deposit rating of Belprambudbank was affirmed at Ba3 and that of Minsk Transit Bank at B2.

The outlook on the B3 long-term foreign currency deposit ratings of all the six rated banks is negative, driven by the negative outlook on foreign currency ceiling for Belarus. The outlooks on local currency deposit ratings of five banks (Belarusbank, Belahraprambank, Belinvestbank, Minsk Transit Bank and Bank Moscow-Minsk) are negative, whilst the outlook on Belprambudbank is stable. //BelaPAN