The Belarusian central bank did not impose any capital controls, including restrictions on cross-border debt service, in the past 18 months. Additionally, Belagroprombank honored and is committed to continue honoring its financial obligations in local and foreign currencies. Customer deposits were stable, supported by the timely revision of interest rates and government funding. Therefore, we raised our foreign currency long-term rating on Belagroprombank to 'CCC' from 'CC'. At the same time, we affirmed our 'C' foreign currency short-term rating and 'CCC/C' local currency long- and short-term ratings. We revised the outlook to stable from negative to reflect our expectation that Belagroprombank will continue to service all its financial obligations. On Nov. 16, 2023, S&P Global Ratings raised its foreign currency
