Fitch affirms Belarusian banks at B

Fitch Ratings affirmed Belarusbank's, Belinvestbank, OJSC's, and JSC Development Bank of the Republic of Belarus's long-term issuer default ratings at B.

The outlooks are negative.

The negative outlooks on the banks reflect the potentially weaker financial position of the sovereign, which would undermine its ability to provide support to the banks.

The sovereign's external position remains strained, following a sharp fall in foreign-exchange reserves in the third quarter of 2020, and government foreign-currency repayments are high.

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