Moody’s boosted Krasnodar’s rating
December 14, 2020 / Investment
Moody’s Investors Service, the international rating agency, boosted Krasnodar’s 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 city’s 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 Moody’s 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, Moody’s Investors Service confirmed its rating at B1 (high credit risk), and the prediction was changed from stable to positive.