OREANDA-NEWS. Fitch Ratings has today assigned the City of Kharkov a National Long-term rating of "AA-(minus)(ukr)".

Its International Long-term foreign and local currency ratings are affirmed at 'B+' and Short-term foreign currency rating at "B". The Outlooks on the International and National Long-term ratings are Stable.

The ratings reflect Kharkov's growing economy, which in turn boosts the city's budget revenue, low debt servicing cost and small total debt burden.

However, they also take into account its operating expenditure rigidity resulting from the large proportion of tied social spending.