S&P upgrades EDB’s short-term rating to A-2

Almaty, 3 September 2012. The international rating agency Standard & Poor’s has upgraded Eurasian Development Bank’s (EDB) short-term foreign currency rating to A-2 and affirmed its long-term foreign currency rating at BBB.

In addition, the agency affirmed EDB’s Russian and Kazakh national scale ratings at ruAAA and KzAA+ respectively.

The outlook is stable.

The agency says that these ratings confirm EDB’s very high capitalisation and adequate liquidity. These indicators confirm that the Bank has significant support from its members.

With this in mind, Standard & Poor’s has upgraded EDB’s short-term rating to the level of the short-term foreign currency rating of its largest member, the Russian Federation.

Additional Information

Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://www.eabr.org.