IBI-Rating has affirmed the credit rating and rating of investment attractiveness of Bila Tserkva city

National rating agency IBI-Rating informs on affirming of the credit rating of Bila Tserkva city at uaBBB+ grade with a «stable» outlook and the rating of investment attractiveness at invА- grade. This decision was announced on December 5, 2018, during the regional forum «KYIVSHCHYNA INVESTMENT 2018: COMPETITION FOR INVESTMENT RESOURCES» in the Bila Tserkva city. During the presentation of the city's rating assessment, Director of the municipal department of the IBI-Rating agency, Dmytro Zadesenets, solemnly presented a certificate which confirming the grade of the city's investment attractiveness rating to the Mrs. Inna Novogrebelskaya - Deputy Mayor of Bila Tserkva.

Such rating grades represent high investment attractiveness and sufficient ability of the city to pay off its financial commitments. The «stable» outlook, with the highest probability, implies immutability of the rating on the horizon for 12 months.

The affirming of ratings grade is conditioned by preserving at the sufficient level of the key indicators of the city's social and economic development, its economic, tourist and logistical potential, as well as the presence of a developed industrial complex and infrastructure, successful spatial planning and proximity to the capital.

The rating grades are supported: the importance of the city as a regional center of the Kyiv oblast, high rates of growth of local budget revenues, acceptable indicators of liquidity of the budget and consolidated debt load on the revenue part of the city budget for its expected future growth. At the same time, the indicators of budget security of the city are lower than the average in the country, and the need for capital investment in local infrastructure conditioned by high level of depreciation of fixed assets (housing, engineering and transport infrastructure of the city). The persistence of a difficult situation in the economy and in some industries in particular, as well as the military conflict on a part of Ukraine, has an impact on the development of the city’s economy due to significant risks to the taxpayers solvency and as an uncertainty factor regarding success implementation of the macroeconomic policy implementation.

«Considering recent happening, it is worth noting that in the Bila Tserkva the realization of the risk of civil law relations is significantly lower than in the areas covered by the legal regime of martial law. In addition, the creation of a separate structural subdivision, which is the center of investor support, helps to improve the investment climate», - has said Mr. Dmytro Zadesenets.

Mr. Alexander Prilutskiy, Head of the Bila Tserkva Strategic Development Agency stressed: «Support of the high ratings of the city has already caused an increase in the interest of potential investors in the allocation of resources in the region, which are gradually transformed into specific development projects».

Key indicators of the Bila Tserkva city economy by the first half of 2018:

1. Salary from the beginning of the year increased by 8.9% to UAH 6.9 thousand, however, it is on 21.2% lower than the national average.
2. The volume of capital investments per one inhabitant was UAH 1.5 thousand; FDI - USA 130.6 million. These figures remain lower than the national average. The larger part of FDI is involved in the city's industry, construction, real estate and trade.
3. The city budget was implemented with a deficit of UAH 3.9 million. Total (with transfers) budget revenues amounted to UAH 1 087.03 million, which is compile 58% of the annual plan.
4. Own revenue of the city budget amounted to UAH 426.4 million, and by 90% consisted of tax revenues. The main sources of personal income are PIT, excise, local taxes and own revenues of budget institutions.
5. The volume of transfers from the state budget amounted to 60.8% of the total revenue of the city budget for the relevant period, and mainly focuses on the financing of social protection expenditures, educational and medical sectors. The level of budget security amounted to UAH 2.0 thousand, which is in 29.3% less than the average indicator in Ukraine.
6. The retail trade turnover amounted to UAH 2.0 billion, and in terms of one inhabitant by 31% exceeds the average indicator in Ukraine.

In order to conduct the analytical research, the materials obtained from Bila Tserkva city have been used, including: indicators of the social and economic development, statistical data, annual treasury statements, program materials, other necessary internal information, as well as the information from the public sources, which the Rating agency considers credible.

For reference:

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Bila Tserkva Strategic Development Agency ? was founded in 2016 as a driving mechanism for positive changes in the city. The Agency's team develop and implement projects, accelerating the social and economic development of the city. Its main tasks: implementation of the Development strategy of «Bila Tserkva until 2025»; improvement of investment attractiveness and development of business climate; attraction of investments; international activity development; establishing communication among the public, authorities and business. For more information about the agency please visit its web-site:

Municipal department
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