S&P: Irkutsk outlook positive

Standard & Poor's said it revised its outlook on the issuer credit ratings on Irkutsk Oblast to positive from stable.

At the same time, the agency said it affirmed the BB long-term credit rating and the ruAA national scale rating on the oblast. The recovery rating on the oblast's unsecured debt remains unchanged at 3.

S&P said the ratings are based on the oblast's limited financial flexibility and predictability, relatively high contingent liabilities, and high infrastructure needs.

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