S&P lifts Eurasian Development

Standard & Poor's said it raised its short-term foreign currency issuer credit rating on Eurasian Development Bank to A-2 from A-3.

At the same time, the agency said it affirmed its BBB long-term foreign currency issuer credit rating on the bank.

Additionally, S&P affirmed the Kazakhstan national scale rating at kzAA+ and the Russia national scale rating at ruAAA. The outlook is stable.

The agency said the ratings reflect its view of the bank's clearly defined role as a multilateral development finance institution and its strong shareholder support, as demonstrated by the bank's very strong capitalization and adequate liquidity.

The agency said it raised the short-term rating to A-2 because of its adequate liquidity position.

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