International rating agency Standard Poor s has confirmed the rating of Kiev at the SSA. This is stated in a message S P.

We reaffirm the long-term issuer credit rating and priority unsecured debt rating of Kiev at the level of CCC and display the ratings of the CreditWatch list with negative outlook, - the report says.

SP noted that the ratings reflect the high level of Kiev debt load the city, a significant currency risk and needs to refinance short-term debt.

The negative outlook reflects the outlook on the ratings of Ukraine, as well as the structure of the debt with the high-risk, low liquidity and deteriorating financial performance of city.

restraining influence on the Ratings of Kiev have also limited financial flexibility, evolving system of intergovernmental fiscal relations, the decline in income, adversely affecting the implementation of the budget and contingent liabilities associatedwith urban enterprises.

positive impact on the level of rating has the role of Kiev as the economic and financial center of Ukraine, on a diversified economy of the city with high standards in Ukraine, the level of wealth, and expected support from the central government in rollover or refinancing short-term debt of Kiev.

As reported in February, Standard Poor s has lowered the ratings of Kiev, Lviv, Dnipropetrovsk, Ivano-Frankivsk, Lugansk, Odessa and the Crimea with the level to the SSA.

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