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Standard & Poor's Agency Confirmed Credit Rating of Ufa Again

Date: 23.03.2016
Show count:  12365

In August 2015, during regular rating activities Standard & Poor's international agency improved its outlook on Ufa from “Negative” to “Stable” with confirming  credit rating at “BB-“ on the international scale and “ruAA-“ on a national scale due to improved financial performance. On March 11, 2016, credit ratings on international and national scales were confirmed again.

The negative financial and economic processes taking place in Russia did not influence the performance of Ufa much. Ufa has consolidated leverage and liquidity rates by attracting credit lines. This will allow the city to maintain coverage ratio maintenance costs and repayment of debt at an acceptable level. Low level of direct debt and contingent liabilities of the city have a positive impact on the ratings of Ufa. The agency believes that in the 2016-2018 Ufa's financial performance will gradually improve.

The rating agency reports that the confirmation of ratings was conditioned by the opinion of experts that in the medium term Ufa will most likely maintain coverage ratio maintenance costs and repayment of debt at the level of over 80%, and the debt load will be low for 12-24 months.

Besides Ufa only two cities in Russia have credit ratings of the Agency:

- Moscow: BB +, negative outlook;

- Novosibirsk: BB +, negative outlook.

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