Fitch: Stable view for Moscow, Saint-Petersburg

Fitch Ratings said it revised the City of Moscow's and the City of Saint-Petersburg's outlooks to stable from negative.

The agency also said it affirmed Moscow's long-term foreign- and local-currency ratings at BBB, short-term foreign-currency rating at F3 and national long-term rating at AAA(rus).

It also affirmed Saint-Petersburg's long-term foreign- and local-currency ratings at BBB, short-term foreign-currency rating at F3 and national long-term rating at AA+(rus).

The actions follow the recent revision of the outlooks on Russia's long-term foreign- and local-currency issuer default ratings, Fitch said, and reflect the agency's confidence that both cities' strong operating balance and moderate debt burden will stand them in good stead in the current unstable economic and financial environment.

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