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Fitch Ratings affirms Penza region ratings

16:23 | 22.09.2014 | Economy

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Penza, 22 September 2014. PenzaNews. International rating agency Fitch Ratings has revised its outlook on the Penza region from Stable to Positive, the press service of the Ministry of Investment Development and Business in the region said.

“At the same time, the agency has affirmed the long-term Issuer Default Ratings (IDR) in foreign and local currency ratings at “BB” and short-term foreign currency IDR at “B.” The agency has also affirmed the National Long-term rating of the region at “AA - (rus),” the department said in the interview with news agency “Penza News.”

The ministry explained that these figures reflect low credit risk and the possibility of operational maturity of financial liabilities.

“Also, Fitch Ratings notes the growth of the regional economy, which is faster than the average growth in the country in 2011–2013,” the press service said.

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