S&P ups Stavropol Krai view to positive

Standard & Poor's said it revised its outlook on the issuer credit ratings on Stavropol Krai to positive from stable, following recent rapid economic growth.

At the same time, the B long-term issuer credit ratings and A-(ru) Russia national-scale ratings on the region were affirmed, S&P said.

The ratings on Stavropol are supported by the rapid growth of its economy and revenues, its low debt levels and its improving financial management, the agency noted.

Factors constraining the ratings are the low wealth in the region, the uncertainties caused by ongoing reforms implemented by the federal authorities and the risks arising from its location near the unstable Chechen Republic, which hinders investments and strains tax base development, S&P added.

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