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On the 16th September of 2016, Fitch confirmed its ratings assigned to the Tula Region – foreign and national currency long-term issuer default ratings at ÂÂ, foreign currency short-term rating at  and national long-term region rating at ÀÀ-(rus)
Fitch Ratings experts confirm Tula Region's ratings
On the 16th September of 2016, Fitch confirmed its ratings assigned to the Tula Region – foreign and national currency long-term issuer default ratings at ÂÂ, foreign currency short-term rating at  and national long-term region rating at ÀÀ-(rus). The agency's forecast for long-term ratings is 'Stable'.
Simultaneously, ÂÂ and ÀÀ-(rus) ratings were confirmed for unsecured privileged bonds issued by the Region.
The ratings resemble the average scale of the Tula Region's economy considering worsened economic climate in the country which may exert definite influence on the Tula Region's budget figures in the mid run.
At the same time, the agency noted the moderate recovery of the Tula Region's budget figures due to the growth of income to the budgeted levels and moderate direct risk exposure of the Region.
Experts mote that the Tula Region's industry is well diversified and that the Region's economic growth was ahead of the country's average throughout four consecutive years.
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