The ratings on the oblast are based on its limited financial flexibility and predictability and relatively high contingent liabilities and high infrastructure needs. The oblast's creditworthiness is supported by a decrease in its debt. Debt levels are likely to remain low over the medium term, due to consistently solid budgetary performance, and a diverse economy, which we believe has good long-term economic growth potential. Since mid-2008, the oblast's government has applied prudent cost-containment measures. These measures--combined with additional federal-government subsidies, redistribution of municipal revenues in favor of the oblast budget, and unplanned tax proceeds thanks to the diversified economy--have helped the oblast improve its financial indicators during and after the economic downturn. In 2009 and 2010, with operating surplus averaging...
Companies mentioned in this report are: Irkutsk Oblast,Sverdlovsk Oblast,Samara Oblast,OAO AK Transneft,Bucharest (City of),Krasnodar Krai,Sakha (Republic of),Varna (City of),Krasnoyarsk Krai,Lipetsk Oblast
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >