KYIV, Sept 16 – Fitch Ratings has upgraded three Ukrainian local and regional governments' (LRGs) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to 'B' from 'B-', the rating agency has said on its website.
"The outlooks are positive. The affected LRGs are the city of Dnipro, the city of Lviv and the city of Odesa," it said.
"Following the recent upgrade of Ukrainian's Long-Term Foreign- and Local-Currency IDRs to 'B' from 'B-' we have upgraded these issuers. This is because their IDRs are constrained by the sovereign ratings due to each of the cities' standalone credit profiles (SCPs) being higher at 'bb-'," Fitch experts said.
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