22 June 2009, Monday, 15:33

Bashkortostan fully repaid credit, given by “Communal Credit International bank Limited”

author: Elvira Latypova

Ministry of finances RB fully repaid the foreign credit 25 million USD in total, given by “Communal Credit International Bank Limited” to Bashkortostan in 2008. The means, obtained from the credit, were directed to crediting of real sector of economics and development of hypothec housing crediting in Republic of Bashkortostan. Planned repayment of the credit in the present intense economic situation again proves the status of Bashkortostan as a reliable borrower, demonstrating stable positions under the global financial crisis.

Creditability and reputation of Bashkortostan as a reliable business partner and borrower are also proved by the credit ratings of the international rating agencies. For today Bashkortostan has the rating by Moody’s Investors Services B1, “stable” forecast, yielding just to Moscow and Saint-Petersburg and the credit rating by “Standard & Poor’s” BB+, “stable” forecast, yielding just to Moscow, Saint-Petersburg and Khanty-Mansiysky autonomous district. For today the overall volume of the state debt RB is equal to 3,1 billion rubles. From the beginning of this year the dept reduced by 19%. The programs of state internal and external borrowings RB in 2009 anticipate attraction of a foreign credit 25 million USD in total and the issue of the bonded debt RB for the sum of one billion rubles.