S&P affirms Ivano-Frankivsk

Standard & Poor's said it affirmed its B+ long-term issuer credit rating on the Ukrainian City of Ivano-Frankivsk.

The outlook is stable.

At the same time, S&P said it affirmed its Ukraine national-scale uaA rating on Ivano-Frankivsk.

The agency noted that the ratings on Ivano-Frankivsk reflect the weak financial indicators of local utilities, the low flexibility and predictability of its financial and budgetary policy and the city's relatively low wealth levels.

Plans to accumulate only moderate levels of debt, a diversified and growing local economy and a moderate budgetary performance support the ratings, S&P said.

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