S&P rates Lviv's upcoming UAH 300 mln bond issue 'CCC+'

Standard & Poor’s said yesterday that it gave the city of Lviv’s planned UAH 300 mln senior unsecured bond issue a ‘CCC+’ long-term local currency debt rating and a ‘uaBB’ Ukraine national scale rating. S&P said the ratings mirror those of the city, which reflect its dependence on the central government, high infrastructure needs, operating expenditure pressures and low wealth levels.