Summary: Irkutsk Oblast Jun 11
- ID: 1824367
- June 2011
- Standard & Poors
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
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