Moody's assigns Ba3 to Republic of Chuvashia

Moody's Investors Service said it has assigned a Ba3 long-term local currency issuer rating to the Republic of Chuvashia.

The outlook is stable.

Moody's said the rating reflects the republic's good budgetary performance based on continuous economic growth and a prudent budget policy, moderate debt with a good credit history and expected stabilization of the budget framework in Russia.

Chuvashia's rating also takes into account the considerable challenges facing the region, including dependence on unpredictable federal equalization transfers and a possible increase in operating expenditures due to social benefits reform and public-sector wage hikes, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.