Fitch assigns Krasnoyarsk long-term BB

Fitch Ratings said it assigned the Russian City of Krasnoyarsk's long-term foreign- and local-currency ratings of BB, a short-term foreign-currency rating of B and a national long-term rating of AA-(rus).

The outlook is stable.

The ratings reflect the strong economy of Krasnoyarsk, its sound budgetary performance, relatively high capital expenditure and potential financial support from the Krasnoyarsk region, Fitch said.

The ratings also consider the temporary deterioration in budgetary performance in 2009 and short-term direct risk, the agency said.

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