Belarus's role in Russia-Ukraine war poses financial risks: Fitch

Rating agency affirms Belarus's rating at 'CCC' but warns some factors could lead to downgrade

By Ovunc Kutlu

ANKARA (AA) - Belarus's role in Russia's war on Ukraine poses considerable financial stability risks, Fitch Ratings said in a statement on Friday.

The global rating agency said sanctions related to Belarus and its role in the Russia-Ukraine war, in addition to its close economic and financial links to Moscow, are reasons behind the financial risks.

Fitch affirmed Belarus's long-term foreign-currency rating at “CCC” but warned that some factors could lead to a downgrade.

It said Belarus' rating could be lowered if there are more signs indicating a probable default, such as in severe external liquidity stress, or if the government cannot access external financing.

The “CCC” rating implies vulnerability to nonpayment, and dependence upon favorable business, financial, and economic conditions to meet financial commitments and obligations.

Kaynak:

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