International rating agency Standard & Poor's confirmed the long-term credit rating of Minsk on liabilities in foreign and local currency "B-". Its outlook is still "negative".
This was s reported in a statement of the agency on December 28. S&P says the rating of Minsk reflects the limited flexibility and predictability of the city's budget against the volatility of inter-budgetary relations.
The agency also notes that Minsk’s rating may become positive provided for the rising sovereign rating of Belarus in the coming year and an improving fiscal performance of the city.
In September, Standard & Poor's downgraded the credit rating of Minsk from "B" to "B-" with negative outlook. In addition, the ratings are derived from the list of Minsk CreditWatch ("ratings on review"), where they were included in May 2011. Indicative level of solvency for Minsk was marked as "B+".
