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28 March, Tuesday

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Standard & Poor's confirms the rating of Bashkortostan at “BBB –“, with ”Stable” outlook

Business

Long-term credit rating of Bashkortostan Republic is confirmed at “BBB –“, with ”Stable” outlook. This decision was made on April 18, 2014 by the international rating agency Standard & Poor's.

Recall that the credit rating of the investment category was assigned to the region on April 30, 2013. This year, in order to monitor and review the issuer's credit rating analysts visited Bashkortostan on March 26. During the visit, the director of the "Regional and municipal finance" of the Moscow office of the agency Boris Kopeikin and the Group analyst Ekaterina Ermolenko met with the President of Bashkortostan Rustem Khamitov, the First Deputy Prime Minister of the Government RB Rustem Mardanov,  heads of economic sector ministries, representatives of the banking community. A separate consultation on the fiscal and debt policy in the region was held in the Ministry of Finance RB.

Following the analytical work the agency made a decision on the rating confirmation. S & P experts believe that the rating of the Republic of Bashkortostan reflects positive liquidity, low debt, medium high financial performance and low level of contingent liabilities.

Thus, two regions of Russia — Bashkortostan and the Yamal- Nenets Autonomous District (which rating BBB-/Negative) – confirmed their credit ratings. In other regions, including Moscow and St. Petersburg, as well as the Khanty -Mansi Autonomous Area — ratings were lowered, the press service of the Ministry of Finance informs.

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