Fitch: Yaroslavl view positive

Fitch Ratings said it revised the Russian Yaroslavl Region's outlooks to positive from stable and affirmed its long-term foreign- and local-currency ratings at BB-, short-term foreign-currency rating at B and national long-term rating at A+(rus).

The outlook revision reflects an expectation that the region will benefit from the improved macroeconomic environment in Russia in 2010 and over the medium term, which will support its tax revenue and provide greater flexibility in refinancing maturing debt obligations, Fitch said.

The ratings also reflect the region's sound budgetary performance, stabilized debt and adequate liquidity, the agency said.

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