S&P rates Dnipropetrovsk

Standard & Poor's said it assigned its preliminary local currency B+ long-term debt rating and uaA+ Ukraine national-scale rating to the proposed Ukrainian hrivnya 50 million debut senior unsecured bond to be issued by the City of Dnipropetrovsk (B+/stable, Ukraine national-scale uaA+).

"The ratings on the bond are the same as those on the city, which reflect Dnipropetrovsk's low financial flexibility, high infrastructure needs and contingent liabilities related to municipal utilities," said S&P credit analyst Boris Kopeykin.

These weaknesses are mitigated by the city's low debt, the agency said.

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