Fitch assigns Novosibirsk BB-

Fitch Ratings said it assigned the Russian Novosibirsk region long-term foreign- and local-currency BB- ratings, a short-term foreign-currency B rating and a national long-term A+(rus) rating.

The outlooks is stable.

The ratings reflect the region's growing budgetary rigidity and relatively low capital expenditure, the agency said.

They also reflect its diversified and growing local economy, which facilitates stable growth in tax revenue, its decreasing debt burden and growing reliance on its own revenues, Fitch added.

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