Fitch понизило прогноз рейтинга Евразийского банка развития нa негативный

/REUTERS, Москва, Анна Смирнова, 11.11.08,/ - Международное рейтинговое агентство Fitch пересмотрело прогноз рейтинга российско- казахстанского Евразийского банка развития на "негативный" со "стабильного" вслед за аналогичными действиями в отношении суверенного рейтинга РФ и снижения суверенного рейтинга Казахстана до "BBB-" c "BBB". Поддержка со стороны России и Казахстана, которым принадлежит соответственно две трети и одна треть капитала банка является основным драйвером рейтингов банка. Долгосрочный рейтинг банка был подтвержден на уровне "BBB+", краткосрочный - "F2". Ниже приводится оригинальный текст сообщения Fitch на английском языке. FITCH REVISES EURASIAN DEVELOPMENT BANK'S OUTLOOK TO NEGATIVE London/Paris/Moscow-11 November 2008: Fitch Ratings has today revised the rating Outlook on the Eurasian Development Bank's (EDB) Issuer Default Ratings (IDR) to Negative from Stable. This follows Fitch's decision to revise the Rating Outlook on the Russian Federation to Negative from Stable and to downgrade Republic of Kazakhstan's foreign currency IDR (RK) to 'BBB-' (BBB minus)/'F3' from 'BBB'/'F2'. EDB's Issuer Default ratings are affirmed at Long-term 'BBB+' and Short-term 'F2'. Support from RF and RK, which are the two founding member countries of EDB and respectively own two-third and one-third of the bank's statutory capital, is the main driver of EDB's ratings. Support from the two shareholders is based on comfort letters signed by the Deputy Prime Minister - Finance Minister of the RF and Finance Minister of the RK and on the strong privileges and immunities the institution was granted at inception by its founding member states. Fitch notes that member states have not subscribed callable shares of the bank, a support mechanism used by other multilateral development banks (MDBs). Fitch nevertheless believes that the two member states would bring support to the EDB in case of need; this opinion has been reinforced by Russia paying its remaining share of capital of the bank in the first half 2008. In addition, three countries - Armenia, Belarus and Tajikistan - have submitted their application to join the EDB, which is likely to lead to a capital increase in 2009. Although it has not been definitely set as of today, the share of capital taken by the new shareholders should be modest, and the two founding member states will maintain a majority stake in the EDB's capital. Belarus and Tajikistan are both members of the Eurasian Economic Community (EurAsEC), which also includes the RF, the RK, as well as the Kyrgyz Republic and Uzbekistan. The ratings of EDB are also supported by a number of privileges provided to the EDB. Its charter notably establishes its preferred creditor status protecting the bank's assets from any restriction or foreign currency moratoria and giving it priority of repayment over other creditors in the case of a sovereign default. Given that the bank's operations are likely to be extended to countries or projects carrying a fairly low credit quality, such treatment provides EDB's financing with strong protection against credit losses. The bank also benefits from a large capital base, which is entirely invested in treasury assets, following relatively conservative rules. However, the bank still lacks a track record that allows Fitch to assess its performance over the long run. In the near term, the credit risk exposure of the EDB may increase, as member countries might be tempted to put pressure on management to speed up loan disbursement and support economic growth, at a time when a number of commercial banks are unable to do so. Established as an MDB in 2006, the bank's mandate is to foster the development of a market economy in member states and to facilitate the regional integration of the EurAsEC. It is headquartered in Almaty (the Republic of Kazakhstan) and had 144 staff at end-June 2008. Contact Eric Paget-Blanc, Paris, Tel: +33 1 44 29 91 33 Alexei Kechko, Moscow, +7 (495) 956 9901. Media Relations Francoise Alos, Paris, Tel: +33 1 44 29 91 22 Email: francoise.alos@fitchratings.com Alla Izmailova, Moscow, Tel: +7 495 956 9903 Email: alla.izmailova@fitchratings.com Hannah Warrington, London, Tel: +44 (0) 207 417 6298 Email: hannah.warrington@fitchratings.com. [2008-11-12]