Fitch Ratings affirmed the ratings of the Altai Krai
International rating agency Fitch Ratings affirmed the ratings of the Altai Territory: long-term issuer ratings in foreign and local currency ratings at «BB+», National long-term rating at «AA (rus)». Prognosis to long-term rating – is «stable».
«The affirmation reflects satisfactory budgetary performance edge, good liquidity and low debt», - according to a press release from the agency.
«Credit rating is an independent opinion on the financial stability of the agency, the ability and readiness of the region to fully and timely comply their obligations», - explained in the Altai region administration on finance, credit and tax policies.
Credit rating given on the basis of an analysis of regular socio-economic development of the region, the budgeting process, results of the ongoing fiscal policy, investment attractiveness and other parameters.
First the credit rating was assigned in 2008 year. In September 2009, the agency raised its value from «BB-» to «BB» on the international scale and «A + (rus)» to «AA -(rus)» National. In August 2010, the credit ratings of the Altai Territory was confirmed. In September 2011, the agency changed from «Stable» to «Positive» rating outlook. In August 2012 the agency upgraded the long-term ratings of the Altai Territory in foreign and local currency ratings to «BB» to «BB +» and National long-term rating to «AA - (rus)» to «AA (rus)». The outlook – «Stable».
Reference: Fitch Ratings- one of the three leading rating agencies