Fitch: Kirov currency at BB-

Fitch Ratings said it has assigned Russia's Kirov Region long-term foreign and local currency ratings of BB-, a short-term foreign currency rating of B and a national long-term rating of A+(rus).

The outlooks for the long-term ratings are stable.

The ratings reflect the agency's expectation of a gradual improvement of the region's budgetary performance, moderate level of direct risk and low contingent liabilities. However, the ratings also factor in the short-term nature of the region's debt, high refinancing risks and modest economy, with wealth indicators below the national average, the agency noted.

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