S&P: Eurasian Development Bank view to negative

Standard & Poor's said it revised the outlook on Eurasian Development Bank to negative from stable.

The agency also said it affirmed the bank's long-term and short-term foreign-currency issuer credit ratings at BBB and A-2.

S&P also said it affirmed the Kazakhstan national scale rating on the bank at kzAA+ and the Russia national scale rating on the bank at ruAAA.

The outlook revision reflects that there is at least a one-in-three chance that agency could lower the ratings on the bank within the next two years if its financial profile continues to weaken, following the deterioration in its capital adequacy observed in 2013, the agency said.

S&P said it now considers the bank's financial profile to be strong rather than very strong, as defined by the agency's ratings criteria.

The ratings also reflect its weak financial and business profiles, the agency said. The bank's stand-alone credit profile is BBB.

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