OREANDA-NEWS. On 05 March 2009 Credit-Rating, a nationally recognized credit rating agency in Ukraine announced that it removed from Rating Watch List (`RWL`) the long-term credit rating of uaBBB assigned to the city of Kramatorsk and its UAH15 issue of coupon bonds (series 1-A). The outlook on the ratings is negative.

These rating actions have been prompted by the fact that Kramatorsk city council has paid in full the coupon on the 1st period on 1-A series bonds.

An obligor or a debt liability with uaBBB credit rating is characterized with the SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is affected by adverse changes in commercial, financial and economic conditions.

Negative outlook indicates that the ratings may be downgraded in the course of the year due to possible shrink in the city`s salary fund, which may be prompted by decreased activities of city`s industrial company`s under crisis environment in the national economy and retained negative conditions in both domestic and overseas markets.