Moody's: Krasnodar bonds Ba1

Moody's Investors Service said it assigned a Ba1 global scale local-currency rating to Krasnodar Krai's ruble-denominated bond issuance, totaling RUB 12 billion.

The rating on the bond is derived from Krasnodar's issuer rating.

Krasnodar Krai's Ba1 issuer rating is supported by the region's stable budgetary performances, which have proven to be resilient to economic stress; its moderate debt burden and its low interest costs, as well as the relative diversification of the economy.

The rating also takes into account the substantial improvements in the local infrastructure in the run-up to the 2014 Winter Olympics, which will be hosted by the City of Sochi, located within the region.

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