Fitch: Stable view for Karelia

Fitch Ratings said it affirmed the Republic of Karelia's long-term foreign- and local-currency ratings at BB-, along with its national long-term rating at A+(rus) and short-term rating at B.

The outlook was revised to stable from positive.

The revised outlook reflects an expectation that the Russian region's operating margin will decline in 2009, due to a fall in tax revenue, Fitch said.

Fitch also said it is concerned about Karelia's large refinancing needs in 2010.

© 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.