Odessa's Credit Rating Update
Recognizing the importance of a qualified credit rating assessment for the city of Odessa, the Finance Department of the Odessa City Council has been collaborating with rating agencies for over ten years.
On December 5, 2024, the independent rating agency «Credit-Rating» announced the confirmation of Odessa's long-term credit rating at uaAA-, with a «stable» outlook.
This rating is based on an analysis of economic and financial indicators for the first half of 2024, along with demographic data, labor market conditions, and the city's debt obligations.
Factors supporting the credit rating:
• high budget sustainability: the ratio of general fund revenue per capita to the regional average stands at 104.3%;
• consistent growth in budget revenues over recent years and strong liquidity indicators;
• diversification of the city's economic activities and low concentration of tax revenues;
• low consolidated debt burden and effective local debt management policies.
Factors limiting the credit rating:
• adverse effects of military aggression on the financial market and the overall economy;
• significant need for additional funding for infrastructure recovery.
Given the importance of the credit rating, the Finance Department will continue its collaboration with rating agencies in 2025 to update Odessa's rating.
Information on all credit ratings determined by the agency can be found on the website www.credit-rating.ua, as well as in BLOOMBERG and S&P Capital IQ systems.
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According to the rules for determining ratings, updates must occur at least biannually.
On February 28, 2022, «Credit-Rating» announced that all ratings were placed on a watch list due to war-related risks.
On March 31, 2023, the agency updated Odessa's credit rating to uaAA-, maintaining a stable outlook.
