Standard & Poorís affirms Sverdlovsk Regionís rating

The rating agency affirmed Sverdlovsk Regionís long-term credit rating at BB, with Stable Rating Outlook, the spokesperson for Sverdlovsk Region Ministry for Economics and Labor reports.


Standard & Poorís said the regional ratings canít grow further because of the deeply felt economic recession which, in combination with limited flexibility and predictability of the budget indicators, leads to a currently weakened regional budget balance. What is more, the metallurgical and pipe-manufacturing enterprises comprise the lionís share of the regional economy, which makes Sverdlovsk Region dependent on the volatile global raw material prices. On the other hand, the regionís paying capacity is backed up by the conservative debt management policy, financial aid from the federal budget, plentiful industrial fund reserves, and above-average prosperity indicators.


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