Credit-Rating, a nationally recognized credit rating agency in Ukraine has today assigned UAH50m 5-year bonds issued by Mykolayiv city council a long-term credit rating of uaBBB with stable outlook. The agency has also affirmed City’s rating at uaBBB/Stable outlook. In the course of analysis Credit-Rating considered City’s key figures for 2002-2006 and 1H2007 as well as other inside information furnished by the city council.

An obligor or a debt liability with uaBBB credit rating is characterized with the SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is affected by adverse changes in commercial, financial and economic conditions.

"Stable" outlook indicates that there are no anticipated reasons to change the rating in the course of the year.