Moody's rates Belagroprombank Ba1, B2

Moody's Investors Service said it assigned to Belagroprombank a bank financial strength rating of E+, long-term and not-prime short-term local-currency deposit ratings of Ba1 and long-term and not-prime short-term foreign-currency deposit ratings of B2.

The outlook is stable.

The ratings are underpinned by the bank's strong market position as the country's second-largest bank by assets, deposits and capital adequacy, a low level of delinquent loans and acceptable profitability, the agency said.

The ratings are constrained by the bank's weak corporate governance due to government interference in the bank's business, the agency said, and exposure to the agricultural sector.

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