The ratings on Ukrainian local and regional governments (LRGs) have remained stable since the publication of the previous report card on Aug. 31, 2006. Factors such as relatively sound financial performance and on average low debt have supported the level of ratings. Ukrainian LRGs also have growing economies, although this growth remains volatile. The strengths are offset by the continuing heavy dependence on decisions made at the sovereign level due to the highly centralized and unpredictable nature of the intergovernmental system in Ukraine (foreign currency BB-/Negative/B; local currency BB/Negative/B; national scale uaAA), low financial flexibility, expenditure pressures, and the weak financial position of utilities. Standard & Poor's Ratings Services currently rates seven LRGs in Ukraine, including six cities and the...
Companies mentioned in this report are:
- Kyiv (City of)
- Dnipropetrovsk (City of)
- Ivano-Frankivsk (City of)
- Crimea (Autonomous Republic of)
- City of Lugansk
- Lviv (City of)
- City of Odessa
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Research Type: Commentary
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