BRIEF-S&P Says Belarus FC Ratings Affirmed At 'SD/SD' And LC Ratings At 'CCC/C' Issue Ratings Lowered To 'D' LC Outlook Negative

BY Reuters | CORPORATE | 09/16/22 04:25 PM EDT

Sept 16 (Reuters) - S&P:

* S&P SAYS BELARUS FC RATINGS AFFIRMED AT 'SD/SD' AND LC RATINGS AT 'CCC/C'; ISSUE RATINGS LOWERED TO 'D'; LC OUTLOOK NEGATIVE

* S&P SAYS AFFIRMED 'SD/SD' LONG- AND SHORT-TERM FOREIGN CURRENCY RATINGS AND OUR 'CCC/C' LONG- AND SHORT-TERM LOCAL CURRENCY RATINGS ON BELARUS

* S&P SAYS LOWERED THE ISSUE RATINGS ON THE 2023, 2026, 2030, AND 2031 EUROBONDS TO 'D' (DEFAULT) FROM 'CC' ON BELARUS

* S&P SAYS OUTLOOK ON THE LOCAL CURRENCY LONG-TERM SOVEREIGN RATING IS NEGATIVE ON BELARUS

* S&P SAYS BELARUS' ECONOMY TO CONTRACT 6% IN 2022 AS INTERNATIONAL SANCTIONS TAKE TOLL ON KEY EXPORT-ORIENTED SECTORS OF ECONOMY & FINANCIAL SYSTEM

* S&P SAYS BELARUS OUTLOOK REFLECTS VIEW THAT MACROECONOMIC & FISCAL STRESS MAY WEAKEN THE GOVERNMENT ABILITY TO STAY CURRENT ON LOCAL CURRENCY DEBT

* S&P SAYS CURRENTLY BELIEVE THAT A DEFAULT ON THE LOCAL-CURRENCY-DENOMINATED GOVERNMENT DEBT IS LESS LIKELY THAN ON U.S.-DOLLAR BONDS ON BELARUS Source text for Eikon: Further company coverage: [ ]

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Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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