KIEV, July 29 - Fitch Ratings has revised the city of Kiev's Long-term ratings Outlook to Stable from Negative and affirmed its Long-term foreign and local currency ratings at 'B-'.

The agency also affirmed the city's National Long-term rating at 'BBB+(ukr)' and Short-term foreign currency rating at 'B', Fitch said in a statement.

The rating action also affects the city's outstanding debt issues of $250 million, $250 million and $300 million.

"The Stable Outlook reflects the reduction of any immediate refinancing risk due to the repayment of $200 million in loan participation notes (LPNs) in July 2011 and the rebound of the local economy," reads the statement.