Fitch rates Orenburg BB

Fitch Ratings said it assigned Orenburg a long-term foreign- and local-currency rating of BB, a short-term foreign-currency rating of B and a national long-term rating of AA-(rus).

The outlook for the long-term ratings is stable.

Ratings reflect the region's sound budgetary performance and moderate debt, the agency said.

Ratings also factor in the concentration of the local economy in the oil and gas sector and contingent exposure limited to the moderate indebtedness of public companies and few outstanding guarantees, the agency noted.

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