Fitch Ratings confirmed the ratings of Yamal at the level “BBB –” with “Positive” outlook

The international rating agency Fitch Ratings confirmed the ratings of Yamal-Nenets Autonomous Okrug at the level of “BBB –” with “Positive” outlook.

The confirmation of the ratings reflects continued strong budgetary indexes and strong indexes of creditworthiness of the Autonomous Okrug in the medium term. This information was given to the news agency “Sever-Press” in the regional department of finances. According to the agency, the credit ratings of the Autonomous Okrug of the investment level are stipulated with the low public debt of the region, high budget security, stable growth of tax revenues and control over expenditures. The size and the high cost of basic assets in gas sector ensure stable allocations of the corporate property tax, which smoothes volatility of revenues from the corporate income tax. The high amount of investments to the basic capital being made by oil and gas companies will ensure stable increase in revenues of the Autonomous Okrug in the long term. Due to consistent fulfillment of the balanced budgetary and conservative debt policy, Yamal ensures balanced nature of the budget and also high liquidity of the unified budget account of the region.