S&P ups Tatarstan view to positive

Standard & Poor's said it revised its outlook on the Russian Republic of Tatarstan to positive from stable.

At the same time, the B long-term foreign currency issuer credit rating on the Republic was affirmed.

S&P noted the outlook revision reflects greater certainty with regard to the stability of Tatarstan's low debt burden, against the background of continued strong economic growth and sound financial performance.

Nevertheless, the rating on the Republic continues to be constrained by Tatarstan's high concentration in the oil industry, below-average liquidity reserves, high level of contingent liabilities and low financial and management transparency, the agency added.

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