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A Centralized and Evolving System: Ukrainian Local and Regional Government Jan 03
Standard & Poors, Jan 2003
Abstract
On Dec. 19, 2002, Standard & Poor's assigned its first local and regional government (LRG) issuer credit rating in Ukraine (B/Negative/B), to the capital City of Kyiv (B/Negative/--; for further details, see news article entitled 'City of Kyiv Assigned 'B' Rtg; Otlk Neg in Line With Sovereign; First LRG Rtg in Ukraine', published on Dec. 19, 2002, on RatingsDirect, Standard & Poor's Web-based credit analysis system). Standard & Poor's expects more Ukrainian LRGs to follow Kyiv's example in the near future. This article offers an analysis of the environment in which Ukrainian LRGs operate and which has a fundamental impact on their creditworthiness. Ukraine's intergovernmental system has developed along the lines of, and remains much like, that of the Russian...
Companies mentioned in this report are: International Bank for Reconstruction and Development,European Bank for Reconstruction and Development,Czech Republic,Russian Federation,Ukraine,Bulgaria (Republic of),Kyiv (City of)
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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