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Fitch rates Volgograd bond BB-
Fitch Ratings said it assigned an expected long-term local-currency rating of BB- to the Russian Volgograd Region's upcoming RUB 5 billion domestic bond issue due May 28, 2017.
The agency also said it assigned an expected national long-term rating of A+(rus).
The region has long-term local- and foreign-currency ratings of BB-, a national long-term rating of A+(rus) and short-term foreign-currency rating of B.
The outlook is stable.
The final rating is contingent upon the receipt of final documents conforming to information already received.
The proceeds will be used to finance the region's budget deficit and the repayment of maturing debt, Fitch said.
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