Fitch affirms St. Petersburg, view positive

Fitch Ratings said it affirmed the City of Saint-Petersburg's ratings at long-term foreign and local currency at BB+ and short-term B.

The outlook is positive.

The ratings reflect St. Petersburg's diversified and dynamic local economy, strong budgetary performance and good capacity for debt financing, Fitch noted.

They also take into account the projected slowdown in operating revenue, which may put additional pressure on the city's budgetary performance, the agency added.

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