20 Jun 2015 13:17

S&P revises outlook on Irkutsk region to negative on rising debt

MOSCOW. June 20 (Interfax) - Standard & Poor's Ratings Services has revised its outlook on Irkutsk Oblast, a Russian region in Eastern Siberia, to negative from stable, the rating agency said in a report on Friday.

In has also affirmed its 'BB' long-term issuer credit rating and 'ruAA' Russia national scale rating on the region.

The outlook revision reflects S&P's view that, if Irkutsk region fails to curb expenditure growth, weak budgetary performance may lead to a faster-than-envisaged accumulation of debt.

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