The international rating agency Standard & Poor’s credit rating service promoted Sverdlovsk Region’s long-term rating from BB to BB+, with Stable rating outlook.

‘The rating was promoted due to the region’s financial performance indicators, which proved above our expectations and were caused by the increased budget revenues and some well-balanced control of the expenditure,’ the agency reports.

The region’s solvency is also supported by its small debts, high liquidity indicators, and moderate financial performance indicators.

‘The Stable rating outlook indicates that we believe Sverdlovsk Region’s income volatility and considerable expenses will be compensated for by the level-headed budget spending policy. As a result, the region will have high liquidity indicators and small debt,’ S & P says.