Standard & Poorís Promotes Sverdlovsk Region to BB+

The international rating agency Standard & Poorís credit rating service promoted Sverdlovsk Regionís long-term rating from BB to BB+, with Stable rating outlook.

ĎThe rating was promoted due to the regionís financial performance indicators, which proved above our expectations and were caused by the increased budget revenues and some well-balanced control of the expenditure,í the agency reports.

The regionís solvency is also supported by its small debts, high liquidity indicators, and moderate financial performance indicators.

ĎThe Stable rating outlook indicates that we believe Sverdlovsk Regionís income volatility and considerable expenses will be compensated for by the level-headed budget spending policy. As a result, the region will have high liquidity indicators and small debt,í S & P says.

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