Moody’s Public Sector Europe has upgraded the ratings of two Ukrainian cities – Kyiv and Kharkiv – to Caa1 from Caa2, which reflected Moody’s upgrade of Ukraine’s sovereign bond rating to Caa1, with a stable outlook, from Caa2 (positive outlook) on December 21.
The outlook for the two cities was also changed to stable from positive.
The rating action on both cities also reflects Moody’s view that the creditworthiness of the cities has materially improved setting the base for a greater resilience to external shocks, Moody’s said. (UNIAN/Business World Magazine)
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