Fitch Rating has assigned BB status to Nizhny Novgorod, Russia

The capitol of Volga regions is considered to be financially stable according to this status.

06.Aug.14 9:29 AM
By Alexey Kuritsyn
Photo Toinnov.com

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Fitch Rating has assigned BB status to Nizhny Novgorod, Russia

Fitch Ratings international agency has assigned BB long-term credit rating to the capitol of Volga region in August 2014. This information was provided be the Head of City Administration Oleg Kondrashev. Nizhny Novgorod has AA status in accordance with national scale.

No status changes are expected during the next two years.

“It means that financial politics of City Administration has proved to be rather effective even in the most complicated conditions. However, I do not see any practical use of such rating for the city. This is nothing more but independent rate of the third parties. At the same time it can be important for the international companies” – Oleg Kondrashev shared his opinion.

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