The Analytical Credit Rating Agency (ACRA) has again confirmed the national credit rating of the Murmansk region at the level of "A(RU)", the forecast is "Stable".
Recall that the main task of ACRA is to provide a high-quality rating and analytical product to various financial market participants. Established in 2015, today this rating agency assigns appropriate statuses to various categories of issuers and issues. Among them are banks and other financial institutions, corporate sector organizations, regional and municipal authorities of the Russian Federation, structured financial instruments and others.
The "stable" forecast assigned to the Murmansk Region assumes with the highest probability that the rating will remain unchanged for 12-18 months. The Agency notes that the following can lead to a positive rating action: an increase in the operational efficiency of the budget, a decrease in the budget's need to use debt financing for capital purposes, a significant increase in the volume of balances on the accounts of the region, as well as maintaining a stable debt-to-current income ratio below 30%, while maintaining the share of capital expenditures in the total expenditures of the region.
It should be noted that for the first time the credit rating of the Murmansk region was published by ACRA in 2017. Over the past 3 years, the status of the region has either been fixed at the achieved level, or has changed for the better. The government of the region fulfills all its obligations, the budget remains balanced.
/ Ministry of Finance of the Murmansk Region /