Fitch ups Altai

Fitch Ratings said it upgraded the Russian region of Altai's long-term foreign- and local-currency ratings to BB from BB-, along with the national long-term rating to AA-(rus) from A+(rus). The short-term foreign-currency rating is affirmed at B.

The outlook was revised to stable from positive.

The upgrade reflects the continuation of the region's sound budget performance, quasi debt-free status and high quality of management, Fitch said.

The ratings also factor in the small scale of the region's economy, its high dependence on federal aid and contingent liabilities stemming from its broad public sector, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.