22 March 2016, Tuesday, 14:26

Ufa outlook is stable - Standard & Poor's

 

UFA, 22 March 2016. /Bashinform News Agency, Ksenia Kalinina/. When conducting regular rating activities in August 2015 the Standard & Poor's International Agency improved the forecast of Ufa outlook from "negative" to "stable" with confirmation of credit ratings at "BB-" on the international scale and "ruAA-" on a national scale. This is due to improved financial performance of the city. On March 11, 2016 international credit ratings and national credit ratings were re-confirmed.

According to the international agency, the ratings confirmation was due to the opinion of experts that in the medium term Ufa will support coverage ratio of maintenance costs and debt repayment at 80 percent and the debt load will be low for one or two years.

The negative financial and economic processes in the country made not much impact on the Ufa performance. The city consolidated leverage and liquidity due to attracting credit lines, which made it possible to maintain an acceptable level of coverage ratio of maintenance costs and debt repayment. A positive effect on the ratings of the capital of Bashkortostan was made by a low level of direct debt and contingent liabilities of the city. The Agency believes that the financial performance of Ufa will gradually improve in the years 2016-2018.