Fitch Ratings has affirmed the Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of the State Bank for Foreign Economic Affairs of Turkmenistan (SBFEAT) at “BB-” with a Stable Outlook, according to the news website Turkmenportal.
The bank’s rating is aligned with the country’s sovereign rating and reflects Turkmenistan’s resilient macroeconomic performance, low level of public debt, and the stability of its financial system.
The bank plays a key role in financing priority projects in the oil and gas, chemical, transport, agriculture, and healthcare sectors. It also acts as the government’s agent for attracting external borrowings and managing international financing activities.