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Odessa assigned FITCH credit rating

Odessa assigned FITCH credit rating

Excellent news for the financial and investment climate in Odessa.

For the first time in ten years, the agency FITCH Odessa assigned a credit rating at the level of "B-".

The presence of a rating allows reducing interest rates on loans that city authorities take from international financial organizations. For example, the EBRD will reduce the rate by 1%.

Note that the credit rating of the city cannot be better than the rating of Ukraine as a whole, which is also equal to "B-". Along with Odessa, the rating was assigned to Kyiv, Lviv and Kharkiv. Earlier, the rating agency "IBI-Rating" confirmed the high investment rating of Odessa at the level of "invA +".

What are the prospects for the assigned rating and why is it so important for ODESSA 5T?

Recall that Odessa 5T is 5 priority areas for prospective and effective investment in Odessa - technology and innovation, trade, transport, trust and tourism.

In each of these branches, social, cultural, entertainment and business projects are being developed.

Here are some of them: street lighting based on LED technology, a sport and trade and exhibition complex, the creation of a free economic zone.

Our agency promotes the advancement of Odessa abroad and acts as a moderator between investors and the city.

Odessa became the first city in Ukraine, which successfully implements the project with the EBRD. An excellent example of the assigned rating is a decrease in the loan rates from the EBRD from 7% to 6%. As explained by the director of the department of economic development of the Odessa City Council Sergey Tetyukhin, the city will annually receive savings of about 60 000 euros from the reduction in the amount of interest for using the loan that the city received for the purchase of 47 trolleybuses from the EBRD.

The assigned rating is a firm step towards building trust among investors and attracting them to Odessa, as well as a step towards reducing loan rates. This is such a brick for the erection and implementation of urban projects that will improve the lives of every Odessa citizen.