S&P ups Yamal-Nenets foreign currency rating

Standard & Poor's said it raised its foreign currency long-term issuer credit rating on the Russian Yamal-Nenets Autonomous Okrug to B+ from B. The outlook is stable.

At the same time, S&P raised the Russia national scale issuer and senior unsecured debt ratings on the Okrug to ruA+ from ruA.

"The upgrade on Yamal-Nenets, located in northwest Siberia in The Russian Federation (foreign currency BB+/stable/B; local currency BBB-/stable/A-3; Russia national scale ruAA+), reflects the improving predictability in the medium term of the Okrug's budget performance," said S&P credit analyst Felix Ejgel.

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