OREANDA-NEWS The international rating agency Fitch Ratings has confirmed the long-term issuer default rating (IDR) of Belarus in foreign currency at the level of "RD" (limited default), without providing a forecast, the agency said in a statement.

The long-term IDR in the national currency was kept at "CCC", the short-term IDR of Belarus in both currencies were also kept at the "C" level. The rating of the country ceiling remained at the level of "B-".

"The rating of Belarus reflects the ongoing payment of obligations on Eurobonds in US dollars in the national currency, which violates the documentation that does not allow settlements in alternative currencies," the agency said in a statement.

At the end of February, the Ministry of Finance of Belarus announced that the republic had repaid Eurobonds Belarus-2023, and also paid interest income on Eurobonds Belarus-2023 and Belarus-2030 with the transfer of funds to a special account in national currency in the state bank - JSC "ASB Belarusbank".

At the end of October, President of the Republic Alexander Lukashenko said that under international sanctions, the country would transfer payments on the state debt to Western countries to special accounts in Belarusian rubles, despite the refusal of the "collective West" from such a scheme. The Belarusian authorities have previously stated that they will fulfill obligations to individual foreign creditors in Belarusian rubles.