Business news

MINSK, 19 May (BelTA) – The credit rating agency Fitch Ratings would like to underline the impeccable credit reputation of Belarus, BelTA learned from Carmen Altenkirch, director of the analytical group in charge of rating developing economies in Europe, during the Fitch Ratings conference held on 19 May to review the macroeconomic situation and the banking industry in Belarus in 2016.

Carmen Altenkirch underlined that Belarus has had no overdue payments on the state debt so far. She said she hopes that the country will continue honoring its commitments exactly on time.

The Fitch Ratings representative also explained why countries embrace international credit ratings. “Countries are rated so that they could enter the eurobonds market. Belarus has decided it needs ratings from three rating agencies in order to get more reliable results. Besides, countries work with credit rating agencies in order to compare their markets with markets of other countries. Ratings also indicate that a country is open for doing business. Ratings allow raising foreign direct investments,” said Carmen Altenkirch.

In February 2016 Fitch Ratings assigned a “B-” long-term sovereign credit rating and a “B” short-term rating with a stable outlook to Belarus.