BSTDB’s Credit Rating Upgraded to “A” by Standard and Poor’s

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.