OREANDA-NEWS. May 12, 2011. Belarusian OJSC Belinvestbank on April 26, 2011 signed a credit agreement to take a syndicated loan amounting to USD 58.5 million, a representative in the bank stated.

The primary arrangers are OJSC Bank VTB, VTB Bank (Deutschland) AG and Eurasian Development Bank.

The loan agent is VTB Bank AG, Germany. Co-arrangers are CJSC GLOBEXBANK, CJSC AKB NOVIKOMBANK, Atlantic Forfaitierungs AG.

The loan is provided for 12 and will be used to finance the bank’s clients’ foreign trade contracts.

Belinvestbank was created in September 2001. The State Property Committee controls 85.8% of shares in the bank, and the National Bank of Belarus has a 6.5% stake.

Fitch Ratings in March 2011 affirmed some of the bank’s ratings: Long-term Issuer Default Rating (IDR) at 'B'; Short-term IDR at 'B'; Support Rating at '4'; Individual Rating at 'D/E'; and Support Rating Floor at 'B'. Outlook was changed to Negative.

Moody’s Investors Service in April 2011 lowered Belarus’ Belinvestbank’s long-term local currency deposit rating to B2 from B1 and long-term foreign currency deposit rating to B3 from B2; Bank Financial Strength Rating (“BFSR”) is Eplus. All ratings carry a Negative Outlook.