WASHINGTON (Pakistan Point News / Sputnik - 20th June, 2020) Moody's Investors Service said in a release that it has affirmed the Moscow region's Ba1 issuer ratings and changed the outlook from positive to stable.
"Moody's Investors Service, ('Moody's') has today affirmed the Ba1 long-term issuer ratings of the Moscow, Oblast of (Oblast of Moscow) and changed the outlook to stable from positive on these ratings," the release said on Friday.
The release said the change reflects the Moody's expectation that the improvement in the Moscow region's financial position will not materialize as quickly as previously anticipated because of the novel coronavirus pandemic's impact.
Moreover, the release said the affirmation of the Moscow region's Ba1 issuer ratings balances the region's dynamic local economy translating into strong revenues, adequate long-term operating performance and its moderate debt burden against the need to accommodate the rapidly growing population and improve living standards, which will lead to fiscal deficits.
