Fitch rates Sakha bond BBB-

Fitch Ratings said it has assigned the Russian Republic of Sakha's (Yakutia) RUB 2.5 billion domestic bond issue due April 2018 a final long-term local currency rating of BBB- and a final national long-term rating of AA+(rus).

Fitch said that it considers the ratings of the bond to be linked to the long-term local currency rating and national long-term rating of the Sakha (Yakutia).

The region has long-term local and foreign currency ratings of BBB- and a national long-term rating of AA+(rus), the agency noted.

The long-term ratings have stable outlooks.

Fitch forecasts Sakha will maintain a sound budgetary performance with a strong operating margin at about 16% in 2013-2014 driven by continued economic growth.

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