ACRA assigned the rating “AAA(RU)” to Yamal, the outlook is stable

ACRA (Analytical Credit Rating Agency) assigned the credit rating “AAA(RU)” to Yamal-Nenets Autonomous Okrug, the outlook is stable. All issues of bonds in the region are also rated “AAA(RU)”.

As it is said in the message, the credit rating of Yamal-Nenets Autonomous Okrug is stipulated with high indicators of development of regional economy, high degree of self-sufficiency of the budget and high level of its liquidity as well as the minimum level of risk of debt load. The region produces 92.4% of natural gas and 6.4% of oil in Russia. This is one of the main regions-donors to the federal budget. In 2015 - 2017, on average 83.7% of taxes and fees collected on the territory of Yamal-Nenets Autonomous Okrug were allocated to the federal budget and only 16.3% - to the consolidated budget of the region. Yamal ranks second among Russian regions on the level of gross regional product per capita. According to ACRA, the debt portfolio of Yamal-Nenets Autonomous Okrug on 83.4% consists of bonds (20 milliard and 999 million rubles) and on 16.6% - of issued state guarantees (4 milliard and 275 million rubles). The stable outlook assumes with the highest probability that the rating will remain unchanged during 1-1.5 years. The rating may be negatively affected with increase in budget expenditures for social sphere without corresponding increase in revenues and significant change in the system of inter-budgetary relations in the Russian Federation. Currently, bonds of Yamal-Nenets Autonomous Okrug issued for the total sum 26 milliard and 500 million rubles are in circulation: issue 35002 for 20 milliard rubles placed in December 2016, people’s bonds for 1 milliard rubles and bonds for 5 milliard and 500 million rubles placed in December last year. The budget of Yamal-Nenets Autonomous Okrug for 2018 was approved without-deficit - revenues and expenditures more than 146 milliard rubles.