Fitch upgrades the rating of Yamal from stable to positive
14:45 2 октября 2017
Категории: News in English
The international rating agency “Fitch Ratings” upgrades the forecast on ratings of Russia from stable to positive. Also the forecast of 5 cities and regions of the Russian Federation was upgraded – Moscow, Saint Petersburg, Tatarstan, Tyumen Oblast and Yamal-Nenets Autonomous Okrug.
The change is stipulated with analogous revision of the forecast for long-term ratings of Russia’s issuer default on the 22nd of September 2017, as Finmarket reports.
The long-term ratings of issuer default (an ability to perform financial obligations timely) in foreign and national currency of the Republic of Tatarstan, Tyumen Oblast and Yamal-Nenets Autonomous Okrug are confirmed at the level “BBB-”, the short-term rating in foreign currency is “F3”. In addition, the rating of senior unsecured debt of Yamal is kept at the level of “BBB-”.
The rating of “BBB” means that an object of the study refers to borrowers with relatively high credit capacity. Financial state of the object of the rating is assessed as good. The ability to perform its obligations timely and fully is characterized with moderate dependence on negative changes in the macroeconomic environment and identifiable external factors. The sign “-” means that the object is on the first of three steps of the level.
According to analysts of Fitch, these cities and regions will maintain strong credit capacity on the standalone basis in the medium term.
As we should note, the positive dynamics in the global trend, according to Fitch, was outlined this summer. The research of the agency published in July notes that in the end of last year 26 countries had negative forecasts in the sovereign rating and only 5 had positive. In June 2017 there were already 17 countries with negative and 9 positive.