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09.08.2007
Outlook on the rating to bond issue by Regional Pharmacy Holding Company revised to Stable
Credit-Rating, a nationally-recognized credit rating agency in Ukraine has revised to Stable from Negative the Outlook on the long-term credit rating of uaBBB- (uaBBB minus) assigned to UAH20m 3-year issue of registered coupon bonds (A, B series) by Donetsk Oblast-based Regional Pharmacy Holding Company LLC (`Issuer` or `company`). The company`s primary activity is pharmaceutical goods wholesaling and retailing and supplying healthcare institutions with medicines. To revise the Outlook Credit-Rating studied Issuer`s financial statements for 1Q2007 as well as other inside information furnished by the company.
A credit rating of uaBBB is an investment grade rating, indicating an ADEQUATE CAPACITY of an obligor to pay both interest and principal on the given debt liability in the Ukrainian financial market environment. This rating indicates a level of creditworthiness that is more susceptible to adverse changes in commercial, financial and economic conditions than debt obligations with higher investment grade ratings. The plus (+) or minus (-) modifier denotes rating`s relative status within major categories.
In the course of the outlook`s revision procedure Credit-Rating took into
account the fact that the company retained its market positions continuing raising its
sales despite changes in company`s stockholders and
property split-off, which took place in 2006 year-end, namely local governments retired
from company`s participants entailed by simultaneous assignation of a number of
drugstores to municipal property.
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
