On Feb. 25, 2009, Standard & Poor's Ratings Services 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 removed from CreditWatch with negative implications: on...
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
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Product Type: Research Update
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