Moody’s downgraded Belarus’ credit rating by four notches, to Ca from B3, amid Russia’s ongoing war in Ukraine, APA reports citing Anadolu Agency.
The ratings agency maintained a negative outlook for Belarus, according to a statement issued on Thursday.
The rating downgrade is driven by the weakening of Belarus’ credit profile amid the war.
Further tightening of sanctions targeting key economic sectors and the financial system will hamper Belarus’ already narrow external buffers and jeopardize its capacity to service its debt, the statement said.
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