Andijan, a region in the Fergana Valley in the far east of Uzbekistan, benefits from solid financial indicators and no commercial debt. At the same time, the region's wealth levels remain low, and uncertainties coming from volatile institutional settings limit predictability. We assigned our'BB-'local and foreign currency long-term issuer ratings to Andijan regional administration. The outlook is stable. On Nov. 6, 2026, S&P Global Ratings assigned its'BB-'local and foreign currency long-term issuer credit ratings to the Andijan regional administration (Andijan). The outlook is stable. The stable outlook on Andijan balances the region's track record of operating a balanced budget and maintaining a strong debt position against the inherent risks of Uzbekistan's still very volatile institutional framework
