«Moody's» Agency gave a preliminary rating to the future issue of the bonds in Kharkiv

13 september 2011 17:25

The international rating agency «Moody's Investors Service» gave a preliminary rating to the future issue of the bonds of Kharkiv. The Department of economics and municipal property of Kharkiv city council informed of this.

It was the first time when the agency gave a preliminary rating in national currency at the global scale (P)B2 to the bonds nominated in hrivnas on sum 99,5 million hrn. (12,5 million USD) in total, which the city of Kharkiv (rating B2, forecast is “stable”) plans to issue.
Bonds with a fixed coupon and the term of extinguishment in 2014 are planned to be issued in November of the current year. The means received of the bonds issuing are for financing of building and repairing works in Kharkiv. The final rating will be given to the bonds after the final conditions of their issuing and circularization are available.
The main methodologies used at the rating giving were “Regional and Local Governments Outside the US” and “The Application of Joint-Default Analysis to Regional and Local Governments”.