Fitch rates Vologda BB, B

Fitch Ratings said it assigned the Vologda region long-term foreign- and local-currency BB ratings and a short-term foreign-currency B rating, along with a national long-term AA-(rus) rating.

The outlook is stable.

The ratings reflect the region's strong financial management and low debt burden, Fitch said.

However, the ratings also take into consideration the rigidity of the region's budgetary expenditure and unstable budget balances, the agency said.

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