Moody's eyes Eurasian Development for trim

Moody's Investors Service said it placed the Baa1 long-term issuer rating of the Eurasian Development Bank on review for downgrade. EDB's Baa1 foreign-currency senior unsecured debt rating and its (P)Baa1 foreign currency senior unsecured medium-term note program rating are also placed on review for downgrade. Moody's revised the rating outlook to rating under review from stable.

“The decision to place EDB's ratings on review for downgrade stems from rising risks to the bank's liquidity and capital positions from the further conflict between Russia and Ukraine. The review period will allow Moody's to evaluate the impact on EDB's access to financing and asset quality of further sanctions on Russian and Belarussian entities. In this context, Moody's will take into account the degree to which EDB's substantial liquidity buffers mitigate the disruption brought about by new sanctions,” the agency said in a press release.

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