Fitch lifts Sverdlovsk view to positive

Fitch Ratings said it revised Sverdlovsk region's outlook to positive from stable and affirmed its long-term foreign- and local-currency issuer default ratings at BB+.

The region's short-term foreign-currency issuer default rating also was affirmed at B, along with its senior unsecured domestic debt at BB+.

The outlook revision reflects an expectation that Sverdlovsk will maintain moderate direct risk and consolidate its budgetary performance, leading to its debt sustainability being sustainably in line with its AAA assessment under the agency's rating case, Fitch explained.

The ratings also factor in a "weaker" assessment of the region's risk profile, the agency said.

Sverdlovsk's standalone credit profile is assessed at BB+, Fitch said.

© 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.