Moody's has improved the forecast on Bashkortostan ratings

The International Rating Agency Moody's Investors Service has improved the forecast on credit ratings of Bashkortostan Republic. The forecast on international ratings Ba1 for the republic is changed from "stable" to "positive", Moody's informs.

The forecast improvement on ratings of Bashkortostan reflects good position of the republic concerning liquidity, strong possibilities on self-financing and quite small debt load, Moody's explains. These positive factors occur from «the conservative approach of the republic to the budget management, historically supported by the regional government».

Bashkortostan is one of industrially advanced regions of the Russian Federation. The republic population is more than 4 million people (2,9 % from all population of Russia). The Gross Regional Product (GRP) of Bashkortostan makes approximately 2,1 % from the gross national product of the Russian Federation.