ACRA has withdrawn credit ratings of Belarus – Kommersant

On November 9, the Russian Analytical Credit Rating Agency (ACRA) withdrew unsolicited credit ratings of Belarus, reported press service ACRA. We are talking about long-term credit ratings in foreign currency at B+ and in national currency – B+, as well as short-term credit ratings in foreign currency at B and in national currency – B.

ACRA, on its own initiative and without concluding an agreement, assigned these ratings to Belarus in 2020 based on public data as well as agency databases. The reason for the withdrawal of credit ratings is not specified. The ACRA press service stated Frank Mediathat the decision was caused by the agency’s desire to maintain only the ratings assigned under the agreement.

At the same time, ACRA confirmed the credit ratings of the republic’s bond issue (B+ on the international scale and BBB– on the national scale of the Russian Federation), it follows from press release agencies. An agreement on assigning bond issue ratings was concluded between Belarus and ACRA in 2022.

August 9, 2023 ACRA confirmed the long-term credit rating of Belarus at B+ and the credit ratings of the republic’s bonds, which correspond to current levels. In September, ACRA stated that the credit rating of Belarus was characterized as “developing” because there was “an unresolved issue of payments on Eurobonds.”

In October, a group of private investors of 200 individuals and 30 organizations appealed to Deputy Head of the Ministry of Economy of the Russian Federation Dmitry Volvach with a request to limit Belarus’ access to Russian government loans and the capital market due to non-payments on Eurobonds. Belarusian Ministry of Finance reportedthat payments on Eurobonds will be made after agreements with the National Settlement Depository of the Russian Federation. November 7, Head of the Ministry of Finance of the Republic Yuri Seliverstov statedthat Belarus expects to begin paying Eurobonds to Russian investors before the end of the year.

Erdni Kagaltynov