ACRA confirmed the credit rating of the Tyumen Region at ААА(RU) level, “Stable” outlook.
The credit rating of the Tyumen Region results from the minimum level of debt burden risk and high level of budget liquidity. The rating is also backed up by a high degree of flexibility and a balanced budget coupled with a large share of capital expenses, as well as by significant financial reserve funds of the regional budget.
The economy of the Tyumen Region is characterized by a high level of the GRP (gross regional product) per capita. In 2016-2018, the averaged value of this indicator exceeded the averaged mean value throughout the country by 1.4 times.
The economy of the Tyumen Region is based on the extraction and processing of hydrocarbons, providing a greater part of tax revenues. A major part of tax revenues accounts for public sector organizations, scientific and engineering activities, construction, wholesale trade, as well as for land and pipeline transport.
The Tyumen Region has a balanced budget characterized by a high degree of flexibility and self-sufficiency. The share of own incomes in the aggregate income (excluding grants) will equal to 97% over the period from 2016 to 2020 (the averaged ratio of the specified indicators).
The share of the capital expenses in the overall expenditures (excluding grants) will equal to 29% in 2016-2020. The region finances 95% of its capital expenses from its own funds.
The level of the budget debt burden is minimal. At the end of 2019, the debt of the Tyumen Region equaled to 3.02 billion rubles, and the ratio of the debt to the current incomes is 1.7%.
The amount of the accumulated liquidities exceeds manifold liability payments.
The “Stable” outlook suggests that no changes are most likely to occur in the rating within 12-18 months.
The credit rating and the outlook therewith are to be revised anew within 182 days from the date of ACRA's press release pursuant to the Calendar of the Planned Revision and Disclosure of Sovereign Ratings.History of ratings of the Tyumen Region