Long-Term Rating On Russia's Tomsk Oblast Raised To 'BB-' On Internationally Low Debt Levels; Outlook Stable Jun 11
Standard & Poors, June 2011
Abstract
LONDON (Standard & Poor's) June 13, 2011--Standard & Poor's Ratings Services said today that it has raised its issuer credit rating on Russia's Tomsk Oblast to 'BB-' from 'B+'. At the same time, we raised the Russian national scale rating on the oblast to 'ruAA-' from 'ruA'. The outlook is stable. The recovery rating on the oblast's unsecured debt remains unchanged at '3'. "The oblast has built up its cash reserves and extended its debt maturity on faster-than-planned revenue growth and continued state budget loans," Standard & Poor's credit analyst Felix Ejgel said. "As a result, we expect that the oblast's debt service will continue to decline to an annual average of 8% of operating revenues during 2011-2013." The ratings...
Companies mentioned in this report are: Tomsk Oblast
Action: Outlook: Stable
Action: Upgraded
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Tomsk Oblast
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