Fitch rates Sakha bonds A(rus)

Fitch Ratings said it assigned Republic of Sakha (Yakutia)'s issue of Russian ruble 2 billion domestic bond with maturity of five years a national long-term A(rus) rating.

The republic is rated international long-term B+ and national long-term A(rus). The outlook is stable.

Fitch said the rating reflects the republic's stable operating performance and high degree of control over main budget revenue sources.

It also takes into account its successful efforts in improving its debt structure by gradually writing off a large portion of its low-quality federal loans, provided the republic maintains good budgetary discipline.

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