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Seven Ukrainian LRGs Cut To 'CCC+' On Sovereign Downgrade; Outlook On All Entities Negative Feb 09
Standard & Poors, February 2009
MOSCOW (Standard & Poor's) Feb. 25, 2009--Standard & Poor's Ratings Services said today that it had lowered its long-term issuer credit ratings on the Ukrainian cities of Kyiv, Lviv, Dnipropetrovsk, Ivano-Frankivsk, Lugansk, Odessa, and the Autonomous Republic of Crimea to 'CCC+' from 'B' and removed them from CreditWatch following the downgrade of the sovereign rating on Ukraine (see "Ukraine Foreign Currency Sovereign Ratings Cut To 'CCC+/C'; Outlook Negative", published on Feb. 25, 2009, on RatingsDirect). The outlooks on all seven local and regional governments (LRGs), which were negative before the CreditWatch placement, remain negative. The ratings had been placed on CreditWatch with negative implications on Feb. 16, 2009. At the same time, the Ukraine national scale ratings were lowered and...
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
Action: Outlook: Negative
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Kyiv (City of),Dnipropetrovsk (City of),Ivano-Frankivsk (City of),Crimea (Autonomous Republic of),City of Lugansk,Lviv (City of),City of Odessa