S&P Global Ratings on Oct. 3 revised the outlook onKazakhstan-based EurasianDevelopment Bank to stable from negative.
At the same time, the agency affirmed the bank's long- andshort-term foreign-currency issuer credit ratings at BBB-/A-3, respectively, aswell as the Kazakhstan national scale rating at "kzAA" and the Russianational scale rating at "ruAAA".
The outlook revision reflects the agency's assessment thatdownside risks to Eurasian Development Bank's ratings have subsided. The agencynoted that the new management team's actions have stabilized the lender's assetquality leading to a return to profitability.
The agency expects the bank's risk-adjusted capital ratio toremain in its current 15%-23% range and that the bank will resume being a netcontributor of funds to the region.
S&P Global Ratingsand S&P Global Market Intelligence are owned by S&P Global Inc.