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Fitch upgrades Kyiv to “B”

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International rating agency Fitch Ratings has upgraded Kyiv from to “B” from “B-“, in a move tied to a similar recent upgrade for Ukraine as a whole. In a statement released by the global “Big Three” credit rating agency, Fitch commented: “Kyiv benefits from its status as Ukraine’s capital and remains the largest and wealthiest city in the country, with a population approaching three million inhabitants and gross city product accounting for about 23% of the country’s GDP.”

Fitch classifies Kyiv as a type-B local and regional government (LRG), as it covers debt service from cash flow on an annual basis.

Source: Ukraine Invest

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