Fitch Affirms Ukraine's City of Kharkov at 'CC'

April 24, 2015 4:04 PM

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(The following statement was released by the rating agency) MOSCOW/LONDON, April 24 (Fitch) Fitch Ratings has affirmed the Ukrainian City of Kharkov's Long-term foreign currency Issuer Default Rating (IDR) at 'CC', Long-term local currency IDR at 'CCC' and its Short-term foreign currency IDR at 'C'.

Fitch has also affirmed the city's National Long-term rating at 'A+(ukr)' with a Negative Outlook. KEY RATING DRIVERS The city's ratings are constrained by the ratings of Ukraine (CC/C). The affirmation reflects Kharkov's exposure to adverse national macro-economic environment and the weakened insti...

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