On July 31, 2020, Russia's Analytical Credit Rating Agency (ACRA) affirmed the credit rating of Sverdlovsk region 'A+'(RU), with a stable outlook, the rating of the bond issues at 'A+'(RU), the rating agency informed.
The credit rating of Sverdlovsk region (hereinafter, the Region) is based on the Region's strong economic profile, as well as a stable budget profile with a high share of internal revenues and a growing share of capital expenses in the budget.
The Region's growing debt load and low liquidity limit the rating. However, the Region's debt repayment schedule does not create refinancing risks, ACRA notes.
Sverdlovsk region is part of the Urals Federal District, bordering seven other administrative entities of the Russian Federation. The Region's population is about 4.3 million (3% of Russia's total population). According to the Region's government, its GRP amounted to RUB 2.4 tln in 2019 (the Region's GRP has been consistently around 3% of the total GRP generated by the Russian regions).
