S&P lifts Leningrad Oblast outlook to positive

Standard & Poor's said it revised its outlook on Leningrad Oblast to positive from stable, based on rapid revenue growth and an improving economic structure.

At the same time, the agency said that the BB- issuer credit and ruAA- Russia national-scale ratings were affirmed.

The outlook revision reflects the oblast's improving economy and prudent fiscal policies, S&P noted, adding that these have resulted in an improved operating balance and a lower debt burden, supporting the ratings.

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