Moody's lowers Kyiv outlook to stable

Moody's Investors Service said it has revised the outlook on the City of Kyiv's foreign and local currency issuer ratings and the rating for its foreign currency loan participation notes to stable from positive.

The ratings were affirmed at B1, the agency said, adding that the rating action follows the revision of the outlook on the Ukrainian government's ratings to stable from positive.

According to Moody's methodology, the City of Kiev's rating factors in a close link to the Ukraine's B1 rating, taking into account the city's strategic importance for the country.

"The City of Kyiv's B1 ratings reflect, among other factors, a moderate likelihood that the national government would act to prevent a default by the city, a good budgetary performance and the city's well-diversified and growing economy," said Alexander Proklov, a Moody's senior analyst and lead analyst for Kyiv.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.