Bulletin: Uzbekistan BICRA Group Revised To '8' On Improved Economic Risk Assessment; No Ratings Affected

MOSCOW (S&P Global Ratings) Jan. 16, 2019--Following a recent review of the Banking Industry Country Risk Assessment (BICRA) for Uzbekistan, S&P Global Ratings revised its economic risk assessment to '7' from '8'. We have revised our BICRA score for Uzbekistan to group '8' from group '9'. The ratings on 12 rated banks in the country remain unchanged. The Uzbekistani government's strong fiscal and external positions support the 'BB-/B' long- and short-term foreign and local currency sovereign credit ratings on the country. These strengths predominately arise from the government's large asset position, which, together with relatively low government debt, gives Uzbekistan additional flexibility to manage potential stresses in the economy and provide support to state-owned enterprises or the banking sector, if

...MOSCOW (S&P Global Ratings) Jan. 16, 2019--Following a recent review of the Banking Industry Country Risk Assessment (BICRA) for Uzbekistan, S&P Global Ratings revised its economic risk assessment to '7' from '8'. We have revised our BICRA score for Uzbekistan to group '8' from group '9'. The ratings on 12 rated banks in the country remain unchanged. The Uzbekistani government's strong fiscal and external positions support the '##-/B' long- and short-term foreign and local currency sovereign credit ratings on the country. These strengths predominately arise from the government's large asset position, which, together with relatively low government debt, gives Uzbekistan additional flexibility to manage potential stresses in the economy and provide support to state-owned enterprises or the banking sector, if necessary. The economy remains in an expansionary phase with projected real economic growth of 5.0%, on average, through 2021. Nevertheless, we view economic imbalances as currently modest....

Bulletin