Fitch affirms Kostroma

Fitch Ratings said it affirmed Kostroma's long-term foreign- and local-currency ratings at B+, short-term foreign-currency rating at B and national long-term rating at A(rus).

The outlook is stable.

The ratings consider the short-term debt maturity profile, relatively low contingent liabilities and an expected improvement of budgetary performance in 2011 thanks to the overall macro-economic recovery, Fitch said.

The ratings also factor in the region's growing level of debt in 2010 to 2011 and weak cash position, the agency said.

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