S&P rates Irkutsk Oblast ruA+

Standard & Poor's said it assigned the ruA+ Russia national scale rating to the Irkutsk Oblast. The B+ long-term issuer credit rating is unchanged.

The outlook remains positive.

The ratings are based on a view that Irkutsk's debt profile is still relatively short term, albeit improving, as well as on the oblast's limited financial flexibility and predictability and moderately high contingent liabilities, S&P said.

However, the oblast has demonstrated its commitment to cost-containment measures over the past 24 months, the agency said.

It maintains moderate debt levels and benefits from the diversity of its economy, which has long-term economic growth potential, S&P said.

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