ACRA UPGRADED CREDIT RATING OF MORDOVIA TO BB(RU), THE OUTLOOK IS STABLE
According to the agency's analysts, the increase in the credit rating of Mordovia was caused by a significant change in the structure of its debt portfolio due to the refinancing of most of the commercial debt with budget loans.
This has led to a significant reduction in the risks of debt refinancing and will reduce the cost of debt servicing in the short term. These indicators had a negative impact on the debt profile of the republic and significantly limited its credit rating due to the uncertainty of the sources of refinancing of short-term debt.
Recall that Russian President Vladimir Putin approved a list of instructions for the socio-economic development of Mordovia, including in terms of reducing the state debt to no more than 100% of tax and non-tax budget revenues.