S&P lifts Khanty-Mansiysk view to positive

Standard & Poor's said it revised the outlook on Khanty-Mansiysk Autonomous Okrug to positive from stable.

The agency also affirmed its BBB- long-term issuer credit rating and ruAAA Russia national scale rating.

The outlook revision reflects the company's better-than-expected budgetary performance, continued accumulation of cash reserves and the explicit commitment of its new management to maintaining modest debt, S&P said.

The ratings consider the region's high wealth levels, solid and improving liquidity, low debt and consistently strong budgetary performance, the agency said.

These strengths are mitigated by a view of its limited revenue predictability and flexibility, owing to the control wielded by the federal government, S&P added.

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