Standard & Poor's (S&P) gave Belarus a rating of "B-" for long-term sovereign credit and a "B" for short-term sovereign credit, the international financial rating company said on Monday. 

The rating was awarded based on the Belarusian government's fiscal policy and its efforts at adapting to and weathering the turbulent regional economic climate. S&P also said the financial outlook for the country was stable.

The S&P website said a "B" rating indicates that the obligor is able to meet current financial commitments. Obligors in this category are deemed to be more vulnerable to adverse conditions within their economic structure, business, banking and financial sectors, as well as adverse conditions from regional or international forces. A "B" rating lies in the middle of the spectrum. The highest possible rating is AAA, which indicates strong capacity to meet obligations, and the lowest is a D, indicating that an obligor is in default or is likely to enter into default on its financial commitments.