Fitch rates Kostroma bond B+

Fitch Ratings said it assigned an expected long-term local-currency rating of B+ and an expected national long-term rating of A(rus) to the Russian Kostroma region's upcoming RUB 4 billion domestic bond issue due Nov. 17, 2016.

The region has long-term local- and foreign-currency ratings of B+, a national long-term rating of A(rus) and a short-term foreign-currency rating of B.

The outlook is stable.

The bond issue has a 9½% fixed-rate coupon. The proceeds will be used to refinance maturing debt and to fund capital expenditure.

The final rating is contingent upon the receipt of final documents conforming to information already received.

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