MOSCOW, December 20 (RIA Novosti) – Fitch Ratings has affirmed Moscow's long-term foreign and local currency issuer default ratings (IDRs) at “BBB” with stable outlooks, the agency said Friday.
It also affirmed the Russian capital city’s short-term foreign currency IDR at “F3” and its national long-term rating at “AAA(rus)” with a stable outlook.
Moscow’s outstanding senior unsecured debt has also been affirmed at “BBB” and “AAA(rus),” the company said.
Fitch said the affirmation reflects Moscow's “capital status, its robust wealth and economic indicators, sound budgetary performance, capex [capital expenditure] flexibility and strong debt ratios.”
The ratings also take into account the slowdown of tax revenue due to the national economy’s deceleration.
