NEW YORK, September 12. /TASS/. International rating agency Standard and Poor's (S&P) has changed the outlook for the long-term sovereign credit rating of Belarus to negative from stable, according to the agency's website.
It simultaneously confirmed the short-term and long-term credit rating of Belarus at "B/B".
The negative outlook reflects growing risks for the financial stability of the banking system of the republic, the rating agency explained. From the point of view of the agency, in a pessimistic scenario, foreign exchange reserves of the National Bank of Belarus might be depleted and risks for the government's ability to fulfill its obligations could appear.
According to the agency, since the first days of August, the republic's gross reserves have decreased by $1.4 bln to an indicator equivalent to the provision of imports with foreign exchange reserves for 2.6 months. S&P also pointed to growing uncertainty in Belarus, which may affect the republic’s economic growth and its access to borrowed funds on the foreign market over the next 12-18 months.