KIEV, March 22 – Fitch Ratings has affirmed the Ukrainian City of Kiev's Long-term foreign and local currency Issuer Default Ratings at 'CCC' and its National Long-term rating at 'BBB(ukr)' with Stable Outlook, Fitch said in a statement.

Fitch also affirmed the city's senior debt ratings at 'CCC' and 'BBB(ukr)'.

According to Fitch, the ratings reflect Kiev's fragile fiscal capacity, its exposure to refinancing risk on domestic bonds in 2016, limited access to debt capital markets and a volatile macro-economic environment in Ukraine (CCC/C).