S&P: Samara Oblast unaffected

Standard & Poor's said its ratings on Samara Oblast are unaffected by rumors of the potential dismissal of governor Konstantin Titov.

"The reason for this is that the opacity and unpredictability of the procedure, which represents the risk of consequent policy changes, is already factored into the ratings," S&P credit analyst Boris Kopeykin said in a written statement. "Together with other systemic risks, this tends to constrain ratings upside."

Even if the recent rumors about Titov were to materialize, it would have no immediate effect on Samara Oblast's BB rating or positive outlook, S&P said. Ratings could be revised if the financial and debt policies change significantly following the management turnover, the agency said.

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