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02.08.2007
Credit rating to bond issue by Ekop-Yug LLC upgraded to uaCCC
Credit-Rating, a nationally-recognized credit rating agency in Ukraine has today upgraded to uaCCC from uaCCC- (uaCCC minus) the long-term credit rating assigned to UAH55m 2-year issue of registered housing bonds (A series) by Odessa-based Ekop-Yug LLC ('Issuer' or 'company'). The company's primary activity is investment and construction. Today the company constructs a residential building in the city of Odessa. To revise the rating Credit-Rating considered Issuer's financial statements for 1Q2007 as well as other inside information furnished by company.
A credit rating of uaCCC is a speculative-grade rating, indicating a debt liability with a DEFAULT POSSIBILITY, such that the obligor's 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 ratings revision procedure Credit-Rating took into account the fact that Issuer has obtained a construction permit, which makes possible commencement of construction works in 39-41, Prokhorovskaya Str, the city of Odessa. Currently the works on foundation pit and piling are being conducted.
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
