Fitch rates Kharkov bonds B

Fitch Ratings said it assigned the city of Kharkov's upcoming UAH 99.5 million domestic bonds issue due on Dec. 8, 2014 an expected long-term local-currency rating of B(exp) and an expected national long-term rating of AA-(ukr).

The city's long-term foreign- and local-currency ratings are both B with a stable outlook. The city has a short-term foreign-currency rating of B and a national long-term rating of AA-(ukr) with a stable outlook.

Proceeds will be used to fund capital expenditure related to the Euro 2012 championship hosted in the city.

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