Fitch affirms Leningrad

Fitch Ratings said it affirmed the Leningrad region's long-term foreign- and local-currency ratings at BB, along with its short-term foreign-currency rating at B and national long-term rating at AA-(rus).

The outlook is stable.

The ratings reflect the region's sound and well-diversified economy, satisfactory budgetary performance and low direct risk, Fitch said.

The ratings also take into account a minor deterioration of operating performance, a lowered liquidity position and high rigidity of operating expenditure, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.