S&P ups Kyiv

S&P said it upgraded the city of Kyiv to B from B-.

“The upgrade reflects our view that, by year-end 2020, Kyiv’s direct debt will be reduced by the remaining amount of its loan from the ministry of finance. Kyiv has successfully completed similar agreements with the central government over 2016-2019, allowing the city to write off the major part of its intergovernmental debt,” said S&P in a press release.

The outlook is stable.

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