S&P upgrades Kyiv city's rating to 'B' with stable outlook
S&P Global Ratings has raised its long-term issuer credit rating on the Ukrainian City of Kyiv to 'B' from 'B-'. The outlook is stable, S&P said in a press release.
The upgrade of the rating is linked to two factors. First, S&P experts anticipate that Ukraine's capital city of Kyiv will completely offset its intergovernmental debt with the Ministry of Finance once its infrastructure projects are completed in 2020. This would reduce the city's direct debt by 50% by 2021.
Secondly, they said that uncertainties regarding the potential dismissal of the mayor as the head of the city's state administration and the date of the next municipal election in 2020 will not affect the city's ability to honor its debt obligations.
Advertising
Advertising
MORE ABOUT
Hamburg Mayor arrives in Kyiv, planning meeting with Klitschko
15:45, 22.04.2024
State Property Fund sets starting price for privatization of Ocean Plaza shopping center at UAH 1.65 bln
20:00, 12.04.2024
Epicenter opens its tenth shopping center in Kyiv
16:12, 05.04.2024
Kyivteploenergo: Number of accidents in heating networks of capital last winter decreases by 15%
18:52, 04.04.2024
Moody's confirms Metinvest's ratings, changes outlook from negative to stable
21:48, 01.04.2024
LATEST
Acceptance of applications for consular actions for men of mobilization age to continue on May 18, taking into account new legal requirements
20:59, 23.04.2024
Rada doesn't consider bill on use of English language on Tuesday due to resonance of dubbing norm
20:58, 23.04.2024
Zelenskyy says at least 300,000 employees hired at Ukrainian defense industry enterprises
20:36, 23.04.2024
Zelenskyy holds several meetings on organizing inaugural Peace Summit
20:12, 23.04.2024
Shmyhal: Govt allocates over UAH 8 bln for construction of fortifications