Moody's downgraded the rating of Bashkiria to "Ba1"
UFA, 21 January 2015. /Bashinform News Agency, Elvira Latypova/.
Ratings of 17 Russian cities and regions, including Bashkortostan were downgraded by the Moody's Investors Service. RIA Novosti Agency reported about this with reference to Moody's. The ratings are placed on review for possible further downgrade.
Bashkortostan rating was downgraded by one notch of the scale — from "Baa3" to "Ba1".
Moody's Agency motivates their actions by worsening creditworthiness of the Russian Federation, in connection with which the rating of the Russian bonds was downgraded from Baa2 (outlook "negative") to Baa3 ("negative") on January 16.
Recall the investment rating "Baa3" was assigned to Bashkortostan on June 27, 2013. On July 1, 2014-it was affirmed with a "stable" outlook. In October last year the outlook was changed to "negative".
Credit rating is an independent assessment of the creditworthiness of the issuer, based on which market participants can make well-founded financial decisions.