{"id":46912,"date":"2023-05-19T16:56:36","date_gmt":"2023-05-19T13:56:36","guid":{"rendered":"https:\/\/api.pozirk.online\/articles\/fitch-ratings-downgrades-belarusian-development-bank\/"},"modified":"2026-02-24T20:29:13","modified_gmt":"2026-02-24T20:29:13","slug":"fitch-ratings-downgrades-belarusian-development-bank","status":"publish","type":"articles","link":"https:\/\/pozirk.online\/en\/news\/46912\/","title":{"rendered":"Fitch Ratings downgrades Belarusian Development Bank"},"content":{"rendered":"<p><b>May 19, <span>BPN.<\/span><\/b> Fitch Ratings has downgraded the Belarusian Development Bank\u2019s long-term foreign currency issuer default rating to RD from C.<\/p>\n<p> \u201cThe downgrade follows the expiry of a 14-day grace period on the bank\u2019s US dollar-denominated Eurobond coupon payment,\u201d the credit rating agency said on its website. \u201cWe view this a restricted default.\u201d<\/p>\n<p> The downgrade doesn&#8217;t apply to the bank&#8217;s long-term local currency IDR, it added.<\/p>\n<p> The Belarusian banking sector faces a fragile stability that is influenced by the government\u2019s control, the political crisis and the external shocks, according to some sources.<\/p>\n<p> Last month, Fitch Ratings affirmed Belarus\u2019 LTFC IDR at RD.<\/p>\n<p>The rating \u201creflects the ongoing payment of US dollar Eurobond obligations in local currency,\u201d with the most recent payment made in late February, it said. This practice violates bond conditions that prohibit settlement in alternative currencies, it added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>May 19, BPN. Fitch Ratings has downgraded the Belarusian Development Bank\u2019s long-term foreign currency issuer default rating to RD from C. \u201cThe downgrade follows the expiry of a 14-day grace period on the bank\u2019s US dollar-denominated Eurobond coupon payment,\u201d the credit rating agency said on its website. \u201cWe view this a restricted default.\u201d The downgrade [&hellip;]<\/p>\n","protected":false},"author":75,"featured_media":0,"template":"","rubric":[21],"class_list":["post-46912","articles","type-articles","status-publish","hentry","rubric-economy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fitch Ratings downgrades Belarusian Development Bank | Pozirk<\/title>\n<meta name=\"description\" content=\"May 19, BPN. 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Fitch Ratings has downgraded the Belarusian Development Bank\u2019s long-term foreign currency issuer default rating to RD from C. \u201cThe downgrade","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pozirk.online\/en\/news\/46912\/","og_locale":"en_US","og_type":"article","og_title":"Fitch Ratings downgrades Belarusian Development Bank | Pozirk","og_description":"May 19, BPN. 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