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10.01.2006
"Credit-rating" has changed the forecast of a credit rating on the city of Odessa on stable
Today, independent rating agency Credit-Rating announced about confirming of long-term credit rating of Odessa city council at the level "uaBB-" according to Ukrainian national scale. The rating forecast is changed to stable.
Stable forecast indicates the absence of presuppositions to change the rating in the course of the year.
The change of credit rating was caused by expected improvement of the situation concerning settling city debts: the city council placed the issue to the amount of UAH 125.0 mln, part of its finances will be used to settle debts with the creditor club (UAH 31 451.0 thousand) and to pay in advance bank credits (UAH 39 040.0 thousand), the interest rate was fixed at the level of 12-14% per annum provided the credit obligations are at 18% per annum and the political situation in the city is stable.
The credit rating of loan of Odessa assigned previously was estimated at the rating level of the city council.
Information on the assigned credit ratings according to the Ukrainian national scale is available at the internet site of «Credit-Rating» company www.credit-rating.com.ua, as well as in informational systems of REUTERS and BLOOMBERG
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