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Bulletin: City of Kyiv Not Affected By New Energy Loans Sep 10
Standard & Poors, Sep 2010
Abstract
MOSCOW (Standard & Poor's) Sept. 20, 2010--Standard & Poor's Ratings Services said today that its ratings on the City of Kyiv are not immediately affected by new bank loans recently obtained by the city to cover its energy payables. Although we previously took the view that any new borrowings in 2010 would be unlikely, the terms of the loans (a 12-month grace period and an even repayment schedule) suggest that the new debt will not materially expand the city's debt service over the next 18 months beyond the levels of our existing forecasts. Our base-case scenario still incorporates our view that fiscal consolidation at the sovereign level as well as direct central government involvement in the city's management will enable...
Companies mentioned in this report are: Kyiv (City of)
Action: Bulletin
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.
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