Fitch affirms Kharkov

Fitch Ratings said it affirmed the City of Kharkov's long-term foreign and local currency ratings at B, short-term foreign currency rating at B and national long-term rating at AA- (ukr).

The outlooks on the city's long-term ratings are stable.

The ratings reflect the city's diversified economy, sound liquidity and improving budgetary performance, the agency said, adding that they also factor in Kharkov's refinancing risks and extensive public sector which might put pressure on the city's budget.

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