S&P: Krasnodar Krai view positive

Standard & Poor's said it revised its outlook on Krasnodar Krai to positive from stable and affirmed its BB- long-term issuer credit and ruAA- Russia national scale ratings.

"The action was driven by the krai's high economic growth, its good financial performance and low debt," S&P credit analyst Irina Pilman said in a written statement.

The ratings reflect the restricted predictability and flexibility of Krasnodar's financials due to central government controls, high infrastructure needs and weak average income levels, S&P said.

The ratings also reflect the krai's low debt, sound finances and well-diversified and growing economy, buoyed by medium-term commitments of large federal and private investments, the agency said.

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