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/ Main / News / Odessa got the rating of the Fitch Group


Placed: 12.02.2018 12:41:21

Odessa got the rating of the Fitch Group

Fitch Ratings has assigned the City of Odessa Long-Term Issuer Default Ratings (IDRs) of 'B-'. The Outlooks are Stable

On February 9, 2018 Fitch Ratings has assigned the City of Odessa Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of 'B-'. The Outlooks are Stable.

Earlier Odessa got the Fitch Rating in 2008. All the measures on renewal the rating were not conducted for subsequent years.

In 2017 Odessa City Council had renewed the practice of cooperation with rating agencies. Department of Economic Development of Odessa City Council has signed an agreement with Fitch Polska S. A.

Long-term credit rating of the city at the level of "B-" has been approved at the same level as indicator for Ukraine. Analysts of the Fitch Ratings have also noted that the rating of the city is limited by the rating of Ukraine, therefore, with the improvement of the indicator for the entire country, the city's rating will automatically increase.



Obtaining Odessa's Fitch rating at the level of Ukraine's sovereign rating proves that the city government demonstrates an effective model of both interaction with international financial institutions and the management of financial resources of the city.

Reference:

Fitch Ratings is an American corporation known as a rating agency. Fitch Ratings, along with Standard & Poor's and Moody's, is included in TOP-3 international rating agencies. The main task is to provide the world credit markets with independent and future-oriented credit ratings, analytical studies and data.

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