Fitch has improved the ratings of Kyiv and Kharkiv
Fitch has improved the ratings of Kyiv and Kharkiv
The Agency excludes default in these cities.
Fitch Ratings has improved the long-term ratings of default of the issuers of Kiev and Kharkov, Ukraine in foreign and national currency with “SS” (possibly defaulted) to “B-” (significantly inadequate level of creditworthiness) with a stable Outlook.
This is stated in a press release from the Agency.
Long-term rating of Kiev in the national currency increased from “BB+(ukr)’ to ‘ BBB(ukr)”, Kharkov – left at the level of “A+(ukr) “.
See also: Fitch has significantly increased the forecast on growth of economy of Ukraine in 2017
Fitch noted that the rating upgrade was affected by the repayment of debts of cities and the surplus of local budgets.
We will remind, earlier the Agency Fitch Ratings improved the long-term Issuer default rating of Ukraine in foreign and national currency from CCC (possible default) to b- (substantially insufficient creditworthiness) with a stable Outlook.