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Kyiv (City of) Aug 08 Product Image

Kyiv (City of) Aug 08

  • ID: 2025114
  • August 2008
  • Standard & Poors

Abstract
City's role as Ukraine's financial, commercial, and cultural center. Growing economy with income above the national average, and below-average unemployment Continued budget revenue growth Low financial predictability and flexibility due to central government controls. Expenditure pressures due to both extensive infrastructure needs and increasing personnel and social spending. Relatively high foreign exchange risk exposure, exacerbated by outstanding bullet maturities. Contingent liabilities arising from large investment needs and weak oversight of the city's companies. The rating on the City of Kyiv, the capital of Ukraine (foreign currency B+/Stable/B; local currency BB-/Stable/B; Ukraine national scale 'uaAA') reflects the city's limited fiscal flexibility and evolving interbudgetary relations. The rating is also constrained by Kyiv's significant expenditure pressures, relatively high foreign exchange risk, and...

Companies mentioned in this report are: Kyiv (City of)
Action: Review

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: Full Analysis

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