S&P: Sverdlovsk view to positive

Standard & Poor's said it revised the outlook on Russian Sverdlovsk Oblast to positive from stable. The BB long-term issuer credit rating was affirmed.

The agency said it revised the outlook based on the oblast's projected low debt and continued strong liquidity, S&P said.

Despite rising capital spending, the agency said it believes the oblast may achieve better budgetary performance than currently foreseen, the agency said.

The rating is constrained by limited budget predictability and flexibility, with spending pressure likely leading to a weakening of the oblast's budgetary performance, S&P said.

The oblast's creditworthiness benefits from a low debt burden and strong liquidity, the agency said.

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