S&P believes that the cash reserves of the city are likely to remain high.
The international rating Agency S&P Global Ratings has affirmed the long-term credit rating “B-” Ukrainian capital city of Kiev with “stable”Outlook.
“After debt restructuring at the city of Kiev is not commercial debts. Its direct debt consists of intergovernmental obligations to the Central government”, – stated in the message Agency.
S&P believes that the cash reserves of the city are likely to remain high and will serve as a buffer if the city is going to need the support of its government-related entities.
The Agency believes that the strong budget performance will allow the city to confront the uncertainties of an unstable institutional structure of Ukraine.
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