S&P affirms Sakha

Standard & Poor's said it affirmed its ruA Russia national-scale rating on the Republic of Sakha.

The rating is constrained by Sakha's remote location in the far east of the Russian Federation (foreign currency BBB+/stable/A-2, local currency A-/stable/A-2, Russia national-scale ruAAA) and the concentration of its tax base, the agency said.

According to S&P, these constraints hinder Sakha's economic development, create contingent liabilities and lower the predictability and stability of its budget.

These weaknesses are partially mitigated, however, by Sakha's economy, which generates high per capita revenues and improving financial management, the agency noted.

© 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.