S&P ups Khanty-Mansiysk

Standard & Poor's said it raised its long-term issuer credit rating on Khanty-Mansiysk Autonomous Okrug to BBB- from BB+, lifting the Russian region to investment-grade status. Its national-scale rating also was raised to ruAAA from ruAA+.

The outlook is stable.

The upgrade reflects increased visibility on the okrug's medium-term financial position with sound financial performance, high liquidity and low debt expected by S&P over 2007 through 2009 and more certainty regarding relations with the Tyumen Oblast.

The ratings are supported by the okrug's high wealth levels and low debt, the agency said. The ratings remain constrained by the okrug's concentration in the oil industry, limited revenue predictability and flexibility and institutional uncertainty.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.