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Summary: Irkutsk Oblast Jun 11 Product Image

Summary: Irkutsk Oblast Jun 11

  • Published: June 2011
  • Standard & Poors

Abstract
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
Action: Review

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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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