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21.08.2007
Credit rating to bond issue by Nord-Service-Shipping upgraded to uaB+
Credit-Rating, a nationally-recognized credit rating agency in Ukraine, has today upgraded to uaB+ (uaB plus) from uaB- (uaB minus) the long-term credit rating assigned to UAH21.6m 3-year issue of registered housing bonds (A, B series) by the Simferopol-based Nord-Service-Shipping LLC (`Issuer` or `Company`). The main company`s business is investment and construction. Today, the company carries out a construction project in the city of Simferopol. In course of the rating`s revision procedure, Credit-Rating used Issuer`s financial statements for 2Q and 1H2007 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 course of the rating`s revision procedure, Credit-Rating took into account the fact that during 2Q2007 the volume of works conducted at 23 and 25, Kamskaya Str., Simferopol, have grown almost by 60% to UAH7.3m, and as of July 20, 2007 the object was more than 52% completed.
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
