14 December 2011
Fitch Rating assigned Dnipropetrovsk Oblast long-term foreign and local currency ratings of B with a stable outlook, in line with Ukraine’s sovereign rating. The agency said the oblast’s rating reflects its strong economy (10.2% of Ukraine’s GDP, 2009 gross regional product per capita was 40% above the national average), budgetary performance and integration of the region’s budget with the central budget system. Fitch also noted the region’s stable tax base as personal income tax, a major source of revenues, has low sensitivity to economic cycles.