Moody's upgrades ratings of Kyiv, Kharkiv

Moody's upgrades ratings of Kyiv, Kharkiv

454
Ukrinform
Moody's Public Sector Europe has today upgraded the City of Kyiv's long-term issuer rating to Caa3 from Ca and the City of Kharkiv's issuer rating to Caa2 from Caa3.

At the same time, it has changed the ratings’ outlook to positive from stable, the statement on Moody’s official site reads.

As noted, Kyiv has improved its operating surpluses to 37% of operating revenue in 2016 from 28% in 2015 and 15% in 2014, which was driven by rapid tax revenue growth and supported by additional taxes allocated to local governments after the changes in the institutional framework, and high inflation.

Meanwhile, Kharkiv's operating surpluses averaged at 23% of operating revenue over the last two years compared with 9% in 2014. This improvement was driven by rapid tax revenue growth and supported by additional taxes allocated to local governments after the changes in the institutional framework, and high inflation.

ol

While citing and using any materials on the internet that are open to search systems, hyperlinks to ukrinform.ua not lower than the first paragraph are mandatory. Citing and using materials in ofline-media, mobile apps, SmartTV are allowed only with receipt of a written permission from "ukrinform.ua". Materials marked Advertising are published based on the advertising rights.

© 2015-2017 Ukrinform. All rights reserved.

Website design Studio Laconica
Extended searchHide extended search
By period:
-