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Belarus Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Ca Negative | SD — | NR — | NR — | NR — |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Oct 06, 2023 | Fitch | RD | — | NR | — | |
| Aug 03, 2022 | S&P | CCC | Negative Watch | SD | — | |
| Jul 18, 2022 | Fitch | C | — | RD | — | |
| Jul 08, 2022 | Fitch | CCC | — | C | — | |
| Mar 10, 2022 | Moody's | B3 | Negative | Ca | Negative | |
| Mar 07, 2022 | Fitch | B | Negative | CCC | — | |
| Mar 04, 2022 | S&P | B | Negative | CCC | Negative Watch | |
| Oct 01, 2021 | Moody's | B3 | Stable | B3 | Negative | |
| Nov 13, 2020 | Fitch | B | Stable | B | Negative | |
| Sep 11, 2020 | S&P | B | Stable | B | Negative | |
| Mar 16, 2018 | Moody's | Caa1 | Stable | B3 | Stable | |
| Jan 26, 2018 | Fitch | B- | Positive | B | Stable | |
| Oct 06, 2017 | S&P | B- | Stable | B | Stable | |
| Jul 28, 2017 | Fitch | B- | Stable | B- | Positive | |
| Jun 17, 2016 | Moody's | Caa1 | Negative | Caa1 | Stable | |
| Feb 26, 2016 | Fitch | NR | — | B- | Stable | |
| Apr 17, 2015 | Moody's | B3 | Negative Watch | Caa1 | Negative | |
| Feb 23, 2015 | Moody's | B3 | Negative | B3 | Negative Watch | |
| Oct 18, 2013 | S&P | B- | Positive | B- | Stable | |
| Apr 17, 2013 | S&P | B- | Stable | B- | Positive |
Table Key
| Grade | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Prime | Aaa | AAA | AAA | AAA | AAA |
High Grade | Aa1 | AA+ | AA+ | AA (high) | AA+ |
Aa2 | AA | AA | AA | AA | |
Aa3 | AA- | AA- | AA (low) | AA- | |
Upper Medium Grade | A1 | A+ | A+ | A (high) | A+ |
A2 | A | A | A | A | |
A3 | A- | A- | A (low) | A- | |
Lower Medium Grade | Baa1 | BBB+ | BBB+ | BBB (high) | BBB+ |
Baa2 | BBB | BBB | BBB | BBB | |
Baa3 | BBB- | BBB- | BBB (low) | BBB- | |
Non-investment Grade Speculative | Ba1 | BB+ | BB+ | BB (high) | BB+ |
Ba2 | BB | BB | BB | BB | |
Ba3 | BB- | BB- | BB (low) | BB- | |
Highly Speculative Grade | B1 | B+ | B+ | B (high) | B+ |
B2 | B | B | B | B | |
B3 | B- | B- | B (low) | B- | |
Substantial Risk Grade | Caa1 | CCC+ | CCC+ | CCC | |
Caa2 | CCC | CCC | CCC | CCC | |
Caa3 | CCC- | CCC- | CCC | ||
Extremely Speculative Grade | Ca | CC | CC | CC | CC |
C | CC | C | |||
In Default with Little Prospect for Recovery | CD | RD | RD | ||
In Default | SD | SD | |||
C | D | D | D | D | |
DD | DD | ||||
DDD | DDD | ||||
Not Rated | NR | NR | NR | NR | NR |
FAQ
What is Belarus’s current credit rating?
Belarus’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Belarus’s credit risk.
Has Belarus’s credit rating changed recently?
This page lists the latest rating and outlook actions for Belarus, showing when each agency last reviewed or changed its assessment.
Why does Belarus’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Belarus's bond yields, currency, and equity flows as investors reassess risk.
How does Belarus’s rating compare to other countries?
You can explore how Belarus ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.
What do outlooks like Positive, Stable, and Negative mean?
They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk
What is the difference between investment grade and speculative grade?
Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.
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