Fitch rates Altai region BB-

Fitch Ratings said it assigned the Russian Altai region long-term foreign- and local-currency ratings of BB-, short-term foreign-currency rating of B and a national long-term rating of A+(rus).

The outlook is positive.

The ratings reflect the modest scale of the region's economy, its high dependence on financial aid from the federal government, budget rigidity and increasing contingent liabilities, Fitch said.

The ratings also factor in the region's sound budget performance, low debt burden and high quality of budgetary management, the agency said.

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