S&P affirms Samara Oblast

Standard & Poor's said it affirmed its BB+ long-term issuer credit and ruAA+ Russia national-scale ratings on Russian Samara Oblast.

The outlook is stable.

The 3 recovery rating on Samara Oblast's unsecured debt is unchanged, the agency said.

According to S&P, the ratings on Samara Oblast reflect its view of its limited budgetary flexibility and predictability within a developing and unbalanced institutional framework, as well as its low economic wealth in an international context and pressure from infrastructure development needs.

The ratings are supported by its expectation of its modest debt burden, positive liquidity and a moderate budgetary performance, the agency noted.

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