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 CCC foreign-currency long-term issuer credit and uaB- Ukraine national scale ratings on the city.

The ratings reflect Ukraine’s very volatile and underfunded institutional framework, resulting in the city’s low wealth, weak financial management, weak budgetary flexibility, adequate liquidity and moderate contingent liabilities related to the weak financial position of the city’s government-related entities, S&P said.

The city’s very low debt and average budgetary performance help offset these weaknesses, the agency said.

The rating action also follows a similar action on Ukraine, S&P said.

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