A government-related entity with a "very high" likelihood of extraordinary government support. Second largest domestic franchise. Strong capitalization. High-risk domestic economic and banking environment. High credit risks accentuated by government-directed lending. Increased liquidity risk. Weakened profitability. The ratings on Belarus-based Belagroprombank JSC reflect Standard&Poor's Ratings Services' view of the high economic imbalances and the high-risk operating environment in the Republic of Belarus (foreign currency B/Watch Neg/B; local currency B/Watch Neg/B). The ratings also reflect our view of the bank's high credit risks, accentuated by a large share of lending under special government programs, increased liquidity risk, and weakened profitability. These negative factors are partly mitigated by Belagroprombank's status as a government-related entity (GRE), and our view of a
