Standard & Poor's (S & P) has issued today a new rating for St. Petersburg updated as “Stable.” Meanwhile, the long-term credit rating was affirmed at "BBB", the rating agency said.
"The new rating of St Petersburg means a very low debt, very high liquidity position of the second largest city of Russia and relatively high level of economic development", Boris Kopeikin, the agency’s expert is reported as saying by his press service.
However, the rating is constrained by limited predictability and flexibility of income and expenditure of the city as a result of monitoring by the federal government. The current pressure on financial indicators due to the reduction of tax collection in this current economic situation, the expert says. Besides, the city still needs a significantly long-term infrastructure financing, Mr. Kopeikin added.
Standard & Poor's (S & P) a credit rating agency, one of the top three companies in this business, along with Moody’s and Fitch Ratings.
"The new rating of St Petersburg means a very low debt, very high liquidity position of the second largest city of Russia and relatively high level of economic development", Boris Kopeikin, the agency’s expert is reported as saying by his press service.
However, the rating is constrained by limited predictability and flexibility of income and expenditure of the city as a result of monitoring by the federal government. The current pressure on financial indicators due to the reduction of tax collection in this current economic situation, the expert says. Besides, the city still needs a significantly long-term infrastructure financing, Mr. Kopeikin added.
Standard & Poor's (S & P) a credit rating agency, one of the top three companies in this business, along with Moody’s and Fitch Ratings.