S&P lifts Kyiv view to stable

Standard & Poor's said it revised to stable from negative the outlook on Ukraine's capital City of Kyiv.

The agency also said it affirmed the B- long-term issuer credit rating.

The outlook revision follows a similar action on Ukraine, S&P said.

The agency said it does not cap the rating on Kyiv at the long-term rating on Ukraine.

The rating on Kyiv reflects a view of Ukraine's institutional framework as volatile and underfunded. Rating weaknesses are the city's severely constrained financial flexibility, weak budgetary performance and negative financial management, S&P said.

The rating is supported by the city's position as the administrative and economic center of Ukraine, fairly diversified economy and wealth levels exceeding the national average, the agency said.

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