Fitch affirms Nizhniy Novgorod region at the level “BB”

Fitch Ratings, January 26, 2018, affirms long-term Issuer default rating in foreign and national currency of the Nizhny Novgorod region at ‘ BB ‘ with a stable Outlook and short-term IDR in foreign currency “B”. The ratings of the senior unsecured debt of the oblast affirmed at ‘BB’.

“The affirmation reflects the unchanged baseline scenario regarding a good operating performance of the region in the medium term, moderate direct risk (direct debt plus other debt according to the classification of the Agency) and a diversified economy that is prone to cyclicality. The ratings also take into account the concentrated profile of debt”, – stated in the message Agency.

Fitch affirms Nizhniy Novgorod region at the level “BB” 31.01.2018

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