KIEV, July 19 - Fitch Ratings has affirmed the City of Kiev's Long-term foreign and local currency ratings at 'B-', with stable outlooks, and its short-term foreign currency rating at 'B'.

"The affirmation of Kiev's ratings reflects its status as capital and implicit support from the central government, satisfactory budgetary performance and stabilized debt," reads the report, which was issued on Friday.

The ratings also factor in refinancing risk, stemming from debt obligations maturing in 2014 and exposure to foreign currency risks on eurobonds.