Kyiv (City of) Aug 08
Standard & Poors, August 2008
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
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Research Type: Full Analysis
Kyiv (City of)
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