OREANDA-NEWS. Standard & Poor's has raised a long-term rating of the Vologda region from "B+" up to "ВВ-". At the same time, the rating on the Russian scale is raised from "ruА" up to "ruАА-". The outlook is "Stable".

Increase of a rating reflects growth of incomes, improvement of financial parameters and liquidities, and also a low level of debts, which the Vologda region will support, predictably, in intermediate term prospect.

The level of ratings is still limited by volatility of incomes in connection with kept dependence on the metallurgical company OJSC “Severstal” and, accordingly, sensitivity fluctuations of the market of steel and also low flexibility and predictability of incomes.

Predictability and flexibility of the regional budget also are limited by the reforms being underway at the federal level.