Expert RA upgrades credit rating of Krasnoyarsk city

AK&M 20 February 2021 16:24

On February 19, 2021, Expert RA Rating Agency upgraded the credit rating of Krasnoyarsk city to 'ruA', with a stable outlook. The city was previously rated 'ruA' with a stable outlook, the rating agency informed.

In 2020, Krasnoyarsk's budget revenues amounted to RUB 37.5 billion, budget expenses totaled RUB 35.5 billion. The rating upgrade is motivated by high budget performance, effective debt portfolio management, stability of leverage and liquidity metrics, as well as the agency's expectations of continuing improvements in budget and debt metrics.