Fitch Ratings-Moscow/London – September 29, 2017. Fitch Ratings has updated its outlook from stable to positive for five Russian subnational entities, including the Tyumen region, after the revision of its outlook for the long-term issuer default ratings (IDRs) of Russia (see "Fitch changes the outlook for Russia's to positive, confirms the ratings at BBB- on September 22, 2017, see www.fitchratings.com).
The Tyumen Region:
Long-term IDRs in foreign and national currencies are confirmed at BBB-, the outlook changed from stable to positive.
The short-term foreign currency IDRs were confirmed at F3.
The ratings of the Tyumen region are restrained by the sovereign ratings. According to Fitch, the Tyumen region will preserve its strong creditworthiness on an independent basis in the medium term, and the ratings will continue to be restrained by sovereign credit ratings, thus, any action with Russia's sovereign ratings will affect the corresponding IDR rating of the Tyumen region.
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