The forecast for regions of Russia - stable, but credit risks can grow - Moody`sthe International rating agency Moody`s estimates as “ stable “ the forecast of development of the Russian regions, but marks possibility of increase in credit risks in intermediate term prospect.
“ stable “ the forecast for the Russian regions is based on expectations of preservation of economic growth, though also weaker, and also moderate deficiencies and indicators of a debt of regions “ - it is told in the agency review.
“ steady economic growth last two years was the key engine of stabilisation of the finance of the Russian regions to pre-crisis levels. On the end of 2011 the average level of incomes of the regions having rating Moody`s, exceeded an indicator of 2008, operational profits have a little grown also deficiencies were in most cases restored to moderate levels in comparison with pre-crisis indicators “ - mark in Moody`s.
the Basic scenario Moody`s for 2012 assumes that the Russian regions will keep steady financial indicators. This scenario is based on the assumption of growth of gross national product of the country on 3,3 - 3,5 % and the favorable prices for raw materials.
nevertheless Moody`s expects occurrence of some bearish risks in economy in the following 12 - 18 months.
now 16 Russian regions have ratings Moody`s - from “ Baa1 “ to “ Ba3 “ informs “ Interfax “. A rating of Tatarstan - “ Ba1 “.