Fitch has affirmed the rating of Odessa at ‘B -‘ with a stable Outlook

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Fitch expects that the city will maintain good operating results, and direct debt will remain low.
Fitch expects that the city will maintain good operating results / photos ukrfoto.net

International rating Agency Fitch Ratings affirmed long-term Issuer default rating of the city of Odessa at ‘B -‘ with a stable Outlook.

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As reported on the website of Fitch ratings limited sovereign ratings of Ukraine, and weak institutional framework governing local government.

Fitch expects that the city will maintain good operating results in the medium term, as direct debt in the medium term will remain low.

It is noted that direct debt of Odessa has increased to 1 billion UAH to the end of 2018, with 0.5 billion UAH to the end of 2017, which corresponds to the forecasts.

As UNIAN reported earlier, the international rating Agency Fitch Ratings affirmed the long-term sovereign Issuer default rating of Ukraine in foreign currency at level “B-” with a stable Outlook.