International rating Agency Fitch has affirmed long-term rating of Kyiv on the international scale at CCC, which means “possible default”, reports RIA Novosti. The rating Outlook is stable.
The rating of the Ukrainian capital on the national scale is confirmed at level BBB, that is “sufficient level of creditworthiness” with a stable Outlook.
“The ratings reflect the fragile budgets of Kyiv, its exposure to the risk of refinancing obligations under the national bonds in 2016, with limited access to the debt capital market and a volatile macroeconomic environment of Ukraine,” — said Fitch.
Fitch downgraded the sovereign credit rating of Ukraine in foreign currency from pre-default level SS to p in August 2015. This rating meant that a default is inevitable. At the same time Ukrainian Prime Minister Arseniy Yatsenyuk promised the citizens that the default in Ukraine will not happen.
