OREANDA-NEWS. Fitch Ratings has affirmed Russian Kaluga Region's Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at 'BB' with Stable Outlooks, Short-Term Foreign Currency IDR at 'B' and National Long-Term rating at 'AA-(rus)' with a Stable Outlook.

The affirmation reflects Fitch's unchanged base line scenario regarding the region's sound operating performance and our expectation that the region's direct risk will stabilise in relative terms on the back of a narrowing fiscal deficit and growing operating revenue.