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20.08.2007
Credit rating assigned to bond issue by Megapolis-DKS LLC
Credit-Rating, a nationally-recognized credit rating agency in Ukraine, has today upgraded from uaCCC to uaB- (uaB minus) the long-term credit rating assigned to registered housing bonds (A-C series) issued by Megapolis-DKS LLC (`Issuer` or `Company`) for the amount of UAH 54m with the 3-year original maturity. The main company`s business is investment and construction. At present, the company carries out a project for the construction of an apartment building in the city of Kiev. To revise the rating, Credit-Rating used Issuer`s financial statements for 1Q2007 as well as other inside information furnished by the company.
An obligor or a debt liability with uaB credit rating is characterized with the LOW creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is extremely susceptible to adverse changes in commercial, financial and economic conditions. A plus + and a minus - signs indicate intermediary categories (grades) compared to the standard categories (grades).
In the course of the company`s rating upgrade procedure the following factors were taken into account: volumes of capital investments in construction of the apartment building located at 23, Grigorenko Str., Kiev increased and amounted to UAH 17.7m and the building is 25% completed. By the beginning of July 2007, the ferroconcrete framework on the 9 th floor is being under construction.
Information on all the credit ratings, assigned in accordance with the Ukrainian National Scale, may be found in the 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
