The rating agency IBI-Rating assigned the city of Bila Tserkva long-term credit rating at uaBBB+. The rating value corresponds to the investment level and reflects the city's ability to calculate its liabilities. The "+" mark means an intermediate rating category relative to the main categories. The outlook for the rating is "stable", which, with the highest probability, implies a constant 12-month rating on the horizon.

The credit rating of the Bila Tserkva is due to high rates of growth of revenues to the city budget, acceptable indicators of liquidity and consolidated debt load, as well as a sufficient level of socio-economic development of the city, the status of a large regional center of regional subordination. At the same time, the Agency notes the lower than the country-wide indicator of budget security, as well as the expediency of further capital investment in local infrastructure, with a view to modernizing the housing stock and transport infrastructure.

The Agency notes significant socio-economic potential and diversification of the city's economy. With almost 2,000 registered enterprises in different sectors of the economy, the city is an important center for industrial and economic development of the metropolitan region. In 2017, the volume of sales of industrial products exceeded 15 billion UAH (more than 70 thousand UAH per 1 resident), 26.9 million passengers and 542.5 thousand tons of cargo were transported. The volume of foreign trade in goods and services for the last year amounted to 325.7 million dollars, which is 11.7% more than in 2016. The volume of foreign direct investment at the end of 2017 amounted to 27 million dollars, the volume of capital investments in 2017 - 582.9 million UAH. The city has more than 200 thousand inhabitants, of which 64% are the working-age population.

The rating agency IBI-Rating also assigned the Bila Tserkva rating of investment attractiveness at the level of invA-, which testifies to the high investment attractiveness of the city.

The rating of investment attractiveness is due to the good provision of the city with the objects of health, education and culture, the location in the central part of Ukraine in the immediate vicinity of the capital, the prospect of creating a large logistics hub, the lack of significant environmental problems, a relatively stable demographic situation, the presence of the largest park in Ukraine and objects of historical and cultural heritage. IBI-Rating notes the active actions of the city authorities, as well as the Strategic Development Agency of the Bila Tserkva on improving the investment climate, the phased implementation of the City Development Strategy, as well as the likely expansion of its boundaries through the creation of the United Territorial Community. Improvement of the investment potential of the city is expected in the event of a successful implementation of the project of development of the industrial park "Bila Tserkva" (registered by the Ministry of Economic Development and Trade of Ukraine in April of this year).

On the other hand, the Agency notes the depreciation of the infrastructure base, competition for labor resources from Kyiv, as well as the dependence of the revenue side of the local budget on transfers from the budget of the highest level.

According to the Director of the Municipal Department, Dmytro Zadezensky: "IBI-Rating may initiate a revision of the rating levels in the direction of increase in case of improvement of indicators of socio-economic development per capita and preserving the positive dynamics of the revenue side of the budget. On the other hand, the negative impact on the level of ratings may have the deterioration of the above indicators and the reduction of liquidity, a significant increase in debt burden, as well as the deterioration of the economic situation in the country.

For the purpose of conducting an analytical study materials from the city of Bila Tserkva were used, including: indicators of social and economic development, materials of statistical bulletins; annual Treasury reporting, program materials, other necessary internal information, as well as information from open sources, which the Rating Agency considers to be reliable.