-Rating, a nationally-recognized credit rating agency in Ukraine has today affirmed the uaA long-term credit rating assigned to city of Kharkiv (`City`) and the uaA+ (uaA plus) long-term credit rating assigned to 3-year UAH100m bond issue by Kharkiv city council. Outlooks on both ratings are Stable. In the course of analysis Credit-Rating used City`s financial and economic indicators as well as other inside information furnished by the city council.

The uaA long-term rating reflects strong City`s capacity to pay its obligations in the Ukrainian financial market environment, it may, though, be more vulnerable to adverse changes in economic, financial and business conditions than obligors rated uaAA and uaAAA. The "+" and "-" modifiers denote rating`s relative status within major categories.

Stable Outlook exhibits that there are no anticipated reasons to change rating in the course of the year.