S&P boosts Stavropol Krai

Standard & Poor's said it raised its Russia national-scale rating on the region of Stavropol Krai to A(ru) from A-(ru).

At the same time, S&P said it affirmed its B long-term issuer credit rating on Stavropol. The outlook is positive.

The rating action was driven by the rapid growth of Stavropol's economy and revenues and its very low debt levels, according to the agency.

S&P added that the ratings are constrained by low wealth in the region and uncertainties caused by the ongoing reforms being implemented by the Russian federal authorities, noting that the ratings also reflect the risks arising from Stavropol's proximity to the unstable Chechen Republic, which hinders inward investment.

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