Fitch: Leningrad view positive

Fitch Ratings said it revised Leningrad Region's outlooks to positive from stable and affirmed its long-term foreign and local currency ratings at BB+, national long-term rating at AA(rus) and short-term foreign currency rating at B.

The action also affects Leningrad Region's outstanding senior unsecured domestic bonds of RUB 1.3 billion.

Fitch said the positive outlook reflects its forecast of continued growth of Leningrad's economy at rates above the national average, maintenance of its low level of debt, sound operating performance and strong liquidity and growing economy.

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