Standard & Poor`s downgrades Belarus credit rating
Standard & Poor's Ratings Services has lowered Belarus's debt rating to 'B/C' from 'B/B' with a negative outlook, Radio Liberty reported.
The downgrade is being seen as leaving Belarus one step closer to default.
Standard & Poor's released a statement that said "the downgrade reflects our concerns over Belarus's ongoing dependence on external funding" and "we remain highly uncertain as to Belarus's ability to secure such funding."
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