Research Update: Russian City of Surgut Outlook Revised To Positive On Continued Prudent Financial Policies; Affirmed At 'BB/ruAA'
- ID: 1576995
- March 2011
- Region: Russia
- Standard & Poors
Russian City of Surgut's management has demonstrated continued prudent budgetary and debt policies, and the clarity of financial relations with Khanty-Mansiysk Autonomous Okrug has improved. We are revising our outlook on Surgut to positive from stable and affirming the 'BB' long-term and 'ruAA' national scale ratings. The positive outlook reflects our expectation that Surgut management's efforts to control expenditure dynamics will result in better-than-currently-budgeted financial performance in 2011-2012, with debt remaining low On March 21, 2011, Standard & Poor's Ratings Services revised its outlook on the Russian City of Surgut to positive from stable and affirmed the 'BB' long-term issuer credit and 'ruAA' Russia national scale ratings. The outlook revision follows Surgut's demonstrated continuity of prudent budgetary and debt policies,
Companies mentioned in this report are: Surgut (City of)
Action: Outlook: Positive