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30.07.2007
Outlook on the rating to bond issue by Apollo-H revised to Positive
Credit-Rating, a nationally-recognized credit rating agency in Ukraine has today changed to Positive from Stable the outlook on uaCCC long-term credit rating to UAH16.9m 2.5-year issue of registered housing bonds (A, B series) by Nikolayev oblast-based Apollo-H LLC ('Issuer' or 'company'). The companys primary activity is investment and construction. Today the company constructs a three-section 9-storied residential building in the city of Yuzhnoukrainsk. To revise the outlook Credit-Rating considered Issuer's financial statements for 1Q2007 as well as other inside information furnished by the company.
A credit rating of uaCCC is a speculative-grade rating, indicating a debt liability with a DEFAULT POSSIBILITY, such that the obligors payment of principal and interest are substantially dependent upon favourable conditions in the business, financial or economic conditions in the Ukrainian financial market environment.
In the course of the outlooks revision procedure Credit-Rating took into account growth in the volume of investments into construction of the three-section 9-storied residential building in 22, Lenin Str. , the city of Yuzhnoukrainsk. As of 2007 June-end 2 stories were constructed in the first section, with the basement being under construction in the second section, and the pile site being currently set.
Information on all the credit ratings assigned in accordance with the Ukrainian National Scale may be found in REUTERS, BLOOMBERG and FTN MONITOR Information Systems.
For further information, please contact:
Information and Analytic Department
Sergey Rozumyak +38 044 490 25 50
SRozumyak@credit-rating.com.ua
