S&P upgrades Kyiv’s ratings
Posted in News.
Standard & Poor’s rating agency has raised its long-term issuer credit rating on the Ukrainian capital city of Kyiv and its issue ratings on Kyiv’s debt to ‘CCC’ from ‘CC,’ the agency’s press service has reported.
“The city of Kyiv repaid its Ukrainian hryvnia (UAH) 1.125 billion domestic bond series B on October 8, 2014, instead of restructuring it as previously announced. We think Kyiv’s course of action is coordinated with and supported by the central government of Ukraine…. For this reason, we are raising our rating on Kyiv to ‘CCC’ from ‘CC’ and removing it from CreditWatch negative,” reads the report.
More info www.ukrinform.ua
