Moodys boosted Krasnodars rating

December 14, 2020 / Investment

Moodys Investors Service, the international rating agency, boosted Krasnodars rating from B1 (high credit risk) to Ba3 (significant credit risk) by changing its prediction from positive to stable, the press service of the City Administration reports.

The rating upgrade in the agency was explained by the citys low debt burden with balanced budget parameters.

According to Yelena Vasilchenko, the Head of the Economy Department of the Kuban capital, the rating assigned by Moodys will help increase the investment attractiveness of municipal securities. It will also reduce the cost of raising funds by issuing debt and increase the liquidity of securities.

As reported by the Delovaya Gazeta.Yug website, in July 2019, Moodys Investors Service confirmed its rating at B1 (high credit risk), and the prediction was changed from stable to positive.