S&P Gives Odesa B+ Rating with Stable Outlook

Standard & Poor assigned a B+ long-term rating with a stable outlook to the city of Odesa. According to S&P, the rating reflects financial restrictions imposed by the central government, pressure from infrastructure needs and labor costs, and the city’s negative credit history. Supporting factors included Odesa’s robust economy and favorable geographic position as an economic and logistics hub. Odesa had previously announced plans to issue USD 65 mln (UAH 325 mln) in Eurobonds this year.