S&P rates Samara Oblast issue BB, ruAA

Standard & Poor's said it assigned its BB local currency global-scale and ruAA Russia national-scale senior unsecured debt ratings to the proposed Russian ruble 5 billion fixed-coupon domestic bond issue by the Russian Samara Oblast (BB/positive, Russia national-scale: ruAA).

The issue will be placed on June 27 with a five-year maturity and will make 20 fixed-coupon payments, the agency said, adding that the ratings on the issue are the same as the issuer credit ratings on Samara Oblast, one of Russia's key industrial regions.

The agency noted that the ratings on the oblast reflect solid economic and budget revenue growth in the oblast and that the ratings also reflect our expectation of low debt, relatively sound financial performance and strong liquidity.

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