Standard & Poor's raised its short-term credit ratings on Belarus

Ratings Service also confirmed long-term ratings of the country.

On July 17, 2012, Standard & Poor's Ratings Services raised its short-term foreign and local currency sovereign credit ratings on the Republic of Belarus to 'B' from 'C'. We also affirmed our 'B-' long-term foreign and local currency sovereign credit ratings on Belarus. The outlook is stable.