S&P affirms its B- rating on Minsk. The international rating agency Standard & Poor’s affirmed its B- long-term issuer credit rating on the Belarusian capital #Minsk due to its solid financial performance, the outlook is stable. According to the rating agency, the financial performance of the Belarusian capital Minsk remains very solid, supported by low debt and neutral #liquidity. Nevertheless, the agency caps all ratings on local and regional governments (LRGs) in #Belarus at the level of the sovereign rating, due to the volatile and underfunded institutional framework in Belarus. In accordance with the S&P criteria, Minsks indicative credit level (ICL) was assessed at b+. According to the agency, Minsks strong budgetary performance, neutral liquidity, and low #debt burden support the #rating. “As Belarus largest administrative, financial, and commercial center, Minsk is wealthy and diversified relative to other Belarusian regions, and we expect this will continue to support its budgetary performance. Although the citys #wealth levels are modest by international standards, the citys gross regional product per capita exceeds the national average by 1.5x,” S&P notes.
Posted on: Fri, 25 Apr 2014 11:10:00 +0000
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