- Language: English
- Published: July 2011
Research Update: Ukrainian Capital City of Kyiv Upgraded To 'B-' On Likely Ability To Refinance LPNs; Outlook Stable; Off Watch Dev Jun 11
- Published: June 2011
- Region: Ukraine
- Standard & Poors
The Ukrainian central government has granted Kyiv a new borrowing authorization that reflects existing market sentiments. Thanks to this authorization, Kyiv will very likely be able to place a bond over the coming days mostly dedicated to refinancing the LPNs coming due in July 2011. We are raising our long-term rating on Kyiv to 'B-' from 'CCC+' and removing it from CreditWatch with developing implications. The stable outlook reflects our expectation that market sentiments and the central government's history of authorizing borrowing will also likely allow Kyiv refinance its debt obligations coming due in 2012. On June 28, 2011, Standard & Poor's Ratings Services raised its long-term issuer credit rating on the city of Kyiv to 'B-' from 'CCC+'. The...
Companies mentioned in this report are: Kyiv (City of)
Action: Outlook: Stable
Action: Removed From CreditWatch
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Kyiv (City of)