06 June 2016, Monday, 19:47

Fitch Ratings has assigned high credit rating to Bashkortostan

 

UFA, 6 June 2016. /Bashinform News Agency, Galina Bakhshieva/. The Fitch Ratings International Rating Agency has assigned Bashkortostan a long-term rating «AA + (rus)», with "stable" outlook at the national scale. The national scale rating is assigned to the republic for the first time.

The national scale rating means very high creditworthiness relative to other issuers or debt issues in the Russia. Credit risks inherent in such financial liabilities differ slightly from the risks inherent in the obligations of the issuer with the highest creditworthiness in the country.

The availability of the credit ratings of generally recognized international rating agencies is one of the necessary conditions for the borrowed funds attraction in the financial markets.

It should be noted that according to the Fitch Ratings assessment Bashkortostan is among the top ten regions of the country, along with Moscow, St. Petersburg, Khanty-Mansi Autonomous District, Tatarstan, the Republic of Sakha (Yakutia), and Novosibirsk, Chelyabinsk, Leningrad and Tyumen regions.

The Fitch Ratings, along with Standard & Poor's and Moody's is a part of the "big three" of the international rating agencies.

The relationship between the Government of the Republic of Bashkortostan and the Fitch Ratings Agency began in March 2016. Prior to that, the Republic of Bashkortostan did not have any ratings of this company.