Moody's rates Mordovia B1

Moody's Investors Service said it assigned first-time B1 global-scale local- and foreign-currency issuer ratings to Russia's Mordovia Republic.

The outlook is stable.

Mordovia's B1 rating is constrained by the region's high debt burden, its substantial short- to medium-term refinancing requirements, persistently high financing and operating deficits over the past few years and its weak own-source liquidity position, Moody's said.

The region's high deficits are attributed to recent substantial local infrastructure spending, as well as growing social payments and public salaries, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.