Fitch rates Rostov BB-

Fitch Ratings said i assigned Russia's Rostov region long-term foreign- and local-currency ratings of BB-, a short-term foreign-currency rating of B and a national long-term rating of A+(rus).

The outlook for the long-term ratings is stable.

Ratings reflect Rostov's diversified local economy, expected recovery of budgetary performance, low direct risk and sound liquidity position, the agency said.

Ratings also factor in the region's operating expenditure rigidity and relatively low level of capital expenditure compared with Russian peers, the agency noted.

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