17:29 31.01.2014

S&P downgrades Ivano-Frankivsk to 'CCC+/uaBB' on sovereign downgrade with negative outlook

1 min read

Standard & Poor's Ratings Services on January 30, 2014, lowered its long-term issuer credit rating on the Ukrainian City of Ivano-Frankivsk to 'CCC+' from 'B-', S&P said in a statement.

The outlook is negative.

S&P also lowered the Ukraine national scale rating on Ivano-Frankivsk to 'uaBB' from 'uaBBB-'.

The downgrade follows the downgrade of Ukraine on January 28, 2014.

"We would consider a positive rating action on Ivano-Frankivsk if we took a positive action on Ukraine," S&P said.

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