On August 7, 2020, Russia's Analytical Credit Rating Agency (ACRA) affirmed the credit rating of the Komi Republic at A-(RU), with a stable outlook, the rating of the region's bonds at A-(RU), the rating agency informed.
The credit rating of the Komi Republic (the Republic, or the Region) is based on the high share of the budget's own revenues, moderately low debt and medium liquidity of the budget. The rating level is constrained by the budget's dependence on the mining sector and expectation of debt increase, ACRA notes.
The Republic is located in the North-Western Federal District. A part of its territory belongs to the Far North area. About 820 thousand people (0.6% of the total Russian population) live in the Region. The Republic's share in the total GRP of the Russian regions is 0.8%.
