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.
