Fitch Ratings affirmed ratings of Altai Krai: stable outlook
International rating agency Fitch Ratings affirmed the ratings of Altai Krai: Long-term Issuer Default "BB +" in foreign and local currency, National Long-term “AA (rus).” The outlook on the long-term ratings - stable, according to the committee of the Administration of the Krai for finance, tax and credit policies.
“Fitch expects Altai Krai will keep stable budgetary figures - according to a press release of the agency. - It will reach through weighted budget management aimed at cost control and a steady inflow of current transfers and tax revenues in 2016-2018, which will reduce the negative impact of a long-term economic downturn in Russia.”
Background information. A credit rating is an independent opinion of the agency about financial stability, ability and readiness of the region to fully and timely meet its obligations.
Credit rating is given through regular analysis of the socio-economic development of the region, the organization of the budget process, the results of ongoing budgetary policy, investment attractiveness and other parameters.
Rating agency Fitch Ratings currently assigned credit ratings to 38 regions of the Russian Federation. According to the level of the rating Fitch Altai Krai has equal positions with Moscow, Kursk, Tambov Oblasts, the Chuvash Republic, Krasnoyarsk Krai.
The initial credit rating of Altai Krai was affirmed in 2008 with “BB-” and “A + (rus)”. During the period 2008 - 2016 ranking positions of the Krai raised twice - in 2009 ( “BB”) and in 2012 ( “BB +”).
By the official website of Altai Krai