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Sakha (Republic of) Nov 11 Product Image

Sakha (Republic of) Nov 11

  • ID: 2026012
  • November 2011
  • Standard & Poors

Abstract
High investments, leading to expected revenue growth, and ongoing support from the federal government, resulting in a sound budgetary performance. Strong liquidity position, thanks to high cash reserves and a gradual debt maturity profile. Modest debt burden and likelihood of only gradual direct debt accumulation and modest guarantee issuance. Dependence on federal decisions regarding intergovernmental relations, expenditure responsibilities, and tax regimes under a developing and unbalanced system. Economic concentration and exposure to a single taxpayer. Remote location and severe weather conditions, leading to high operating and capital spending needs and contingent liabilities. The ratings on the Russian Republic of Sakha are based on Standard & Poor's Ratings Services' view of the republic's dependence on federal decisions regarding intergovernmental relations, expenditure...

Companies mentioned in this report are: Sakha (Republic of)
Action: Review

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: Full Analysis

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