S&P affirmed Kyivs stable rating

19.12.2014 |

S&P affirmed Kyivs rating at CCC with a stable outlook. Kyiv has successfully refinanced its debt obligations in local currency maturing in October December 2014. In our opinion, the actions of the city authorities agree with the central government and are implemented with its support, says the statement. However, the agency predicts that in 2015 2016 Kyiv will have a very sizeable amount of maturing debt, including Eurobonds totaling to US $550 mn. S&P expects that the government will provide support to the city, and therefore confirms Kyivs rating at CCC.

As a reminder, in September the agency downgraded Kyivs longterm ratings under commitments in local and foreign currency from CCC to CC.

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