Fitch rates Kharkiv's Hr 99.5 million bond final 'B'

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Jan. 23, 2012, 4:34 p.m. | Business — by Interfax-Ukraine

Fitch rates Kharkiv's Hr 99.5 million bond final 'B'.

Fitch Ratings on Jan. 23, 2012, assigned the City of Kharkiv's Hr 99.5 million domestic bonds issue (UA4000131346), due on Dec. 8, 2014, a final long-term local currency rating of 'B' and a national long-term rating of 'AA-(ukr)'. The city's long-term foreign and local currency ratings are both 'B' with a stable outlook, Fitch said in a statement.

The city also has a short-term foreign currency rating of 'B', and a national long-term rating of 'AA-(ukr)' with a stable outlook.

The bond issue has 12 quarterly interest payment periods with a flat 15% interest rate.

The proceeds from the issue will be used to fund capital expenditure related to the Euro 2012 football championship being hosted in the city.
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