Moscow region will market a record amount.

For debt restructuring, Moscow Region Government will issue the region ruble bonds for a record sum of 33 billion rubles. This writes the newspaper Kommersant. Auction on placement of debt securities, Moscow Region will be held on the MICEX 11 December, 2008.
Earlier, the Moscow Region, the largest borrower in Russia, managed to extend loans amounting to a total of 5.5 billion rubles, issued by Alfa-Bank and the Bank of Moscow, as well as agree on a loan of six billion rubles from URALSIB. "
Recall at the end of October, total debt to the banks of the Moscow region exceeded 20 billion rubles. The total debt of the region on October 1, was 138 billion rubles.
In late October, the rating agency Standard & Poor's downgraded the credit rating of Moscow region to "BB" to "B-". After that, in the Russian media rumors that have defaulted in the area, but this information was subsequently denied by Moscow region Governor Boris Gromovym.
For comparison, the debt in Moscow in October exceeded 110 billion rubles. 10 December Mosgorduma adopted a law on the budget of Moscow in 2009 and the plan period 2010-2011. It says the newspaper Vremya Novostei, the current budget was the "modest" since 1998. In particular, will be reduced costs for social services the city and the construction of social housing.