Fitch revises outlooks for seven Ukraine's cities to 'positive'

11:48, 17.08.2021 1 min read

The international rating agency Fitch Ratings has revised the outlook on the Long-term Issuer Default Ratings (IDRs) of Kyiv, Dnipro, Kharkiv, Lviv, Mariupol, Mykolaiv and Odesa in foreign and local currency from "stable" to "positive" after the sovereign rating action.

According to the agency, the revision of the outlook for the IDRs of these cities follows the revision of the outlook on the sovereign ratings of Ukraine to "positive".

At the same time, the rating action did not affect the assessment of the creditworthiness of cities on a stand-alone basis. Thus, the creditworthiness of all seven cities corresponds to the "b +" level, Fitch reports.

As reported, on August 6, Fitch Ratings revised the outlook on Ukraine's Long-Term Foreign-Currency Issuer Default Rating (IDR) to positive from stable and affirmed the IDR at 'B.'