Belarus has signed an agreement with China’s Dagong Global Credit Rating in hopes of receiving a more favorable credit rating, Reuters reported. Belarus will officially recognize Dagong’s credit rating and in exchange will give financial data to Dagong. The Eastern European country was hit by a financial crisis in March that damaged its credit rating, making it difficult for the country to secure financing. Moody’s (MCO.NYSE) downgraded Belarus in June and Standard & Poor’s followed suit in September, placing the country’s sovereign debt in junk territory. The European Union and United States have criticized Belarus for human rights violations during crackdowns that followed the disputed election of incumbent President Alexander Lukashenko. Dagong said in a statement that Western credit agencies have discriminated against Belarus for a long time. Dagong currently rates 68 countries, about a dozen of which requested custom rating services.
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