The City Of Lviv Gets S&P Rating For Upcoming Bond Issues

Standard & Poor’s assigned its preliminary ‘B+’ long-term local currency debt rating and its ‘uaA+’ Ukraine national scale rating to expected UAH 92 mln (USD 18 mln) debut senior unsecured bond by the City of Lviv (B+/Stable/–; Ukraine national scale:’uaA+’). The issue will consist of two bullet tranches, UAH 50 mln and UAH 42 mln, with quarterly fixed coupon of about 12% per year and five-year maturities. Placement of the first tranche is planned for June – July 2007, with the second tranche to follow in the near term.