REGIONS RATING PRESS RELEASE THE KHANTY-MANSIYSK AUTONOMOUS OKRUG-UGRA August 17, 2020 ACRA affirms ААА(RU) to the Khanty-Mansiysk Autonomous Okrug-Ugra, outlook Stable, and AAA(RU) Lead analysts: to bond issues Maxim Parshin, Senior Analyst +7 (495) 139-0480, ext. 225
[email protected] The credit rating of the Khanty-Mansiysk Autonomous Okrug-Ugra (hereinafter, the Region) is based on high regional economic indicators, the high liquidity of the Region’s budget, and low debt load. Maxim Pershin, Expert +7 (495) 139-0485 The Region is located in the Ural Federal District. It is an administrative subject of the
[email protected] Russian Federation and at the same time is part of the Tyumen Region.1 The Region’s population is 1.7 mln (1% of Russia’s population). The Region’s GRP amounted to RUB 4.4475 tln in 2018, around 5% of Russia’s total GRP. According to the Region’s assessments, its GRP amounted to RUB 4.4501 tln in 2019. Key rating assessment Low debt load and high budget liquidity. The Region’s debt portfolio is composed factors entirely of bonds with maturities before 2024. The Region’s debt to current revenues ratio was 5% at the end of 2019 and ACRA does not expect it to change significantly by the end of 2020. As of July 1, 2020, the budget’s account balances (including deposits) exceeded total debt by more than seven times and average monthly budget expenses for 6M 2020 by more than five times. The Region has enough accumulated liquidity both for debt payments this year and for financing the 2020 budget deficit.