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Bulletin: Ukrainian City of Kyiv Ratings And Outlook Unchanged On Repayment Of Its Outstanding $200 Million LPN Jul 11
Standard & Poors, July 2011
Abstract
MOSCOW (Standard & Poor's) July 15, 2011--Standard & Poor's Ratings Services said today that its ratings and outlook on the Ukrainian capital City of Kyiv (B-/Stable/--) were unchanged by Kyiv's repayment of its $200 million loan participation notes (LPNs). As was envisaged by our base-case scenario, following the approval of Ukraine's central government, the city secured refinancing by issuing a new five-year $300 million LPN, which allowed the city to promptly honor its obligations. We currently rate Kyiv and its issues at 'B-'. The stable outlook on the long-term rating reflects our expectation that market sentiment and the central government's positive track record of borrowing authorization will likely allow Kyiv to refinance its debt obligations in 2012. The outlook also...
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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