S&P lifts Ivano-Frankivsk view to stable

Standard & Poor's said it revised the outlook on the Ukrainian City of Ivano-Frankivsk to stable from negative.

The agency also said it affirmed the city's B- long-term issuer and uaBBB- rating on the Ukraine national scale.

The action follows a similar action on the sovereign, S&P said.

The long-term rating on Ivano-Frankivsk is capped at B- by the Ukrainian sovereign foreign-currency rating, the agency said.

The ratings are constrained by the city's developing and unbalanced public finance system, relatively low wealth levels, negative management quality, low budgetary flexibility, negative liquidity and moderate contingent risks related to the poor financials of the city's government-related entities, S&P said.

These weaknesses are offset by the city's low debt and moderate budgetary performance, the agency said.

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