Recognizing the significance of a qualified credit rating assessment for the city of Odesa, the Finance Department of the Odesa City Council has collaborated with rating agencies for over a decade.

On December 5, 2024, the independent rating agency “Credit-Rating” confirmed the long-term credit rating of Odesa at uaAA-, with a “stable” outlook.

The credit rating is based on the analysis of economic and financial performance for the first half of 2024 and projected indicators for the entire year, including demographic data, labor market conditions, debt obligations, and municipal assets.

Supporting factors for the credit rating:
• high budget security level: per capita income ratio exceeds the average local budget indicators (104.3%);
• growth in budget revenues (excluding transfers) from 2014 to 2023 and high liquidity rates;
• diversification of the city's economic activities and low concentration of revenues from major taxpayers;
• a low level of consolidated debt burden and effective local government policies on debt management.

Restricting factors:
• negative impact of the ongoing military aggression against Ukraine on the financial market and the economy;
• high demand for additional funding for infrastructure recovery.

Given the critical importance of the credit rating, the Finance Department plans to continue its collaboration with rating agencies in 2025 to update the credit rating of Odesa.

Information about all credit ratings determined by the agency is available on the website www.credit-rating.ua and in the BLOOMBERG, S&P Capital IQ information systems.

********
According to the rules set by the authorized rating agency for the National Rating Scale, the rating update should occur at least once every six months.
On February 28, 2022, the independent rating agency “Credit-Rating” announced that due to risks associated with the war, all ratings were placed on a Watch List. As of March 31, 2023, the credit rating of Odesa was updated to uaAA- with a stable outlook.