Moody's rates Krasnoyarsk Ba2

Moody's Investors Service said it assigned an issuer rating of Ba2 to the krai of Krasnoyarsk.

The outlook is stable.

According to Moody's, the ratings are driven by good fiscal performance, in particular rapid tax revenue growth underpinned by sustained economic growth, high federal transfers to improve regional infrastructure and a low debt burden.

The ratings also reflect the considerable challenges facing Krasnoyarsk, including the exposure of budget revenue to a possible downturn in key local taxpayer's financials, the growth of relatively rigid operating expenditure, the significant infrastructure requirements and limited revenue flexibility, the agency said.

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