MOSCOW, December 12 (RIA Novosti) – SP has assigned Russia’s capital city Moscow its ‘ruAAA’ Russia national scale rating for the city’s strong financial and economic performance, the international rating agency said on Wednesday.
Moscow’s rating primarily reflects the BBB foreign currency long-term rating on Russia (foreign currency BBB/Stable/A-2; local currency BBB+/Stable/A-2; Russia national scale ‘ruAAA’), the agency said in a statement.
“The global scale ratings on Moscow are now capped by the long-term foreign currency rating on the sovereign. Therefore we are assigning our highest possible national scale rating, ‘ruAAA’, to the city of Moscow.”
“The ratings reflect the city’s position as Russia’s economic, administrative, and financial center, as well as its diverse, service-based economy, with wealth levels well above the national average. They are supported by Moscow’s very positive liquidity position and low debt.”
The ‘BBB’ long-term global scale rating and stable outlook on Moscow are unaffected by this action, the agency said.