Fitch: Khanty-Mansyisk view negative

Fitch Ratings said it has affirmed Russian Khanty-Mansyisk Autonomous Region's long-term foreign and local currency issuer default ratings at BBB-, its short-term foreign currency issuer default rating at F3 and its national long-term rating at AAA(rus).

The outlooks are negative on the long-term issuer default ratings and stable on the national long-term rating.

Fitch said it has also affirmed local currency long-term rating of the region's senior unsecured bonds at BBB- and national long-term rating at AAA(rus).

According to the agency, the affirmation reflects the region's improved fiscal performance, its robust economy, sound liquidity and low debt. The ratings also consider the concentration of the region's tax base in the oil and gas sector amid the current negative economic trend in Russia.

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