Fitch Ratings, an international rating agency, confirmed its forecast for the long-term credit ratings of the issuer default rating (IDR) in the foreign and local currencies of the city of Lviv.

“It means that we are moving in the right direction and proves our city’s financial and economic capacity. The credit rating reinforces our position in cooperation with international partners such as the EBRD, EIB, IFC, or NEFCO. For instance, we can mention a solid waste management project currently implemented by Green City LPUC (Lviv Public Utility Company). As a result of a high rating given the situation in Ukraine, we can talk about the planned savings of approximately 1.7 million euros in terms of interest payment”, says Roman Staretskyi.

Therefore, Fitch Ratings confirmed the forecast for the long-term issuer default rating (IDR) of Lviv in the foreign and national currencies to “positive” after a sovereign rating action. So, at the moment the forecast for the long-term credit ratings of the issuer default rating (IDR) in the foreign and local currencies of the city of Lviv is at the level “B” with the “Positive” forecast. Lviv’s solvency corresponds to the level “b+”.

The Investment and Project Department explains that this means that the operational performance indicators of Lviv and the debt indicators will be equal to the rating “B” in the mid-term despite the economic downturn caused by the COVID-19 pandemic spread.

“We, at the Investment and Project Department, do our best to continue our positive cooperation with Fitch Ratings, an international rating agency”, say the Department’s officials.