Fitch Ratings reaffirmed the credit rating of 2020 assigned to Kryvyi Rih at the level of "B" with a "Stable" outlook.

Last year, the largest leading international rating agency, Fitch Ratings, gave Kryvyi Rih a long-term foreign currency rating (IDR) of "B" with a "Stable" outlook. The creditworthiness of Kryvyi Rih was assessed within the framework of the city's consulting agreement with the International Finance Corporation (IFC). This year, the rating company confirmed the rating of Kryvyi Rih.

"Despite the economic decrease in the country caused by the coronavirus pandemic, Kryvyi Rih continues to operate and develop systematically. The confirmed credit rating of the city indicates that we can be trusted by international financial organizations and potential investors intending to invest in municipal projects," Mayor Konstiantyn Pavlov said.

The credit rating of Kryvyi Rih cannot be higher than the rating of the country as a whole, so the indicators of the assigned credit rating of Kryvyi Rih have the maximum allowable value. It is worth noting that the same ratings are in Kyiv, Kharkiv, Odesa, Lviv, Dnipro.

In June 2020, for the first time, the international rating agency Fitch Ratings f assigned Kryvyi Rih a long-term issuer default rating (IDR) in foreign and national currency at "B" with a forecast of "Stable", short-term IDR in foreign currency "B" and a national rating of "A + (ukr) "with" Stable "forecast.

"Thanks to the confirmed credit rating, Kryvyi Rih remains stable and is on a par with other "B-rated entities". The city has confirmed its financial stability, which will help increase confidence on the part of investors and creditors," Oksana Pavlushenko, Deputy Head of the Economy Department, said.