credit rating withdrawal rationale
ACRA has withdrawn the A+ credit rating, outlook Stable assigned under the international scale and AAA(RU) credit rating assigned under the national scale, which were previously assigned to Black Sea Trade and Development Bank, due to contract expiration. The ratings have been withdrawn without their concurrent affirmation because ACRA does not possess sufficient information to update them.
REGULATORY DISCLOSURE
The credit rating was previously assigned to Black Sea Trade and Development Bank under the international scale based on the Methodology for Assigning Credit Ratings under the International Scale to International Financial Institutions and Other Supranational Development Institutions. The credit rating was previously assigned to Black Sea Trade and Development Bank under the national scale for the Russian Federation based on the Methodology for Mapping Credit Ratings Assigned under ACRA’s International Scale to Credit Ratings Assigned under ACRA’s National Scale for the Russian Federation and the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities.
The credit ratings under the international scale and the national scale for the Russian Federation assigned to Black Sea Trade and Development Bank were published by ACRA for the first time on October 14, 2020. The credit ratings of Black Sea Trade and Development Bank will not be revised and published on the dates indicated in the Calendar of planned sovereign credit rating revisions and publications because of their withdrawal due to contract expiration without their concurrent affirmation. Planned revision date is 06.09.2022, planned publication date is 09.09.2022. Withdrawal date is 06.09.2022. Withdrawal publication date is 06.09.2022.
The credit ratings were assigned based on data provided by Black Sea Trade and Development Bank, information from publicly available sources, and ACRA’s own databases. The rating analysis was performed using the IFRS financial statements of Black Sea Trade and Development Bank. The credit ratings are solicited, and Black Sea Trade and Development Bank participated in their assignment.
In assigning the credit ratings, ACRA used only information, the quality and reliability of which were, in ACRA’s opinion, appropriate and sufficient to apply the methodologies.
ACRA provided no additional services to Black Sea Trade and Development Bank. No conflicts of interest were discovered in the course of the credit rating assignment.