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Fitch lifts Sverdlovsk view to positive
Fitch Ratings said it revised Sverdlovsk region's outlook to positive from stable and affirmed its long-term foreign- and local-currency issuer default ratings at BB+.
The region's short-term foreign-currency issuer default rating also was affirmed at B, along with its senior unsecured domestic debt at BB+.
The outlook revision reflects an expectation that Sverdlovsk will maintain moderate direct risk and consolidate its budgetary performance, leading to its debt sustainability being sustainably in line with its AAA assessment under the agency's rating case, Fitch explained.
The ratings also factor in a "weaker" assessment of the region's risk profile, the agency said.
Sverdlovsk's standalone credit profile is assessed at BB+, Fitch said.
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