Sverdlovsk Region’s Credit Rating Confirmed at BB+

7 November 2012 (09:44)

November 7, 2012. The international rating agency Standard & Poor's affirmed Sverdlovsk Region’s long-term credit rating at BB+, with Stable rating outlook. Experts stress that this estimate of the region’s financial performance stems from low level of debt, good administration of the budget for this year, and high liquidity, the agency’s press release states.

In addition, S&P Credit Rating Service observes that the volatility of budget revenues and the region’s considerable current and capital spending needs will be balanced off through the region’s new management’s level-headed budget spending policy.

Acting Economics Minister of Sverdlovsk Region Anatoly Ogloblin says Standard & Poor's promoted the region’s long-term rating by one position in late December 2011 thanks to the budget figures that exceeded the target ones, which, in its turn, resulted from greater inflow of funds and efficient control over the expenses.

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