S&P raises Klin Rayon outlook positive

Standard & Poor's said it revised its outlook on the Russian Klin Rayon to positive from stable on high economic and tax base growth, good budgetary performance and positive trends in the debt profile.

At the same time, the long-term issuer credit rating on Klin Rayon was affirmed at B-, the agency said.

In addition, the agency said it raised the Russia national-scale rating on the rayon to ruBBB from ruBBB-.

"The ratings on Klin Rayon, located in the Moscow Oblast (BB/positive, ruAA), are constrained by low financial flexibility and predictability, continuing uncertainty created by ongoing municipal reform and weak liquidity," said S&P credit analyst Irina Pilman.

"A significant strength, however, is Klin's favorable location, which helps to attract investments and maintain high economic growth, resulting in the growth of the tax base."

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