print
22.08.2007
Outlook on the credit rating assigned to bond issue by SVF KOLO changed to Positive
Credit-Rating, a nationally-recognized credit rating agency in Ukraine, has today changed to Positive from Stable the outlook on the long-term credit rating uaB- assigned to the registered housing bond issue (A series) by the Poltava-based SVF KOLO LLC (`Issuer or `Company) for the amount of UAH 17.5m with 2-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 Poltava. To revise the rating, the agency used the 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).
A Positive outlook indicates that there is a possibility to upgrade the rating in the course of the year, on the condition that positive tendencies are maintained and that current risks are reduced.
In the course of the rating`s outlook change procedure the following factors were taken into account: increase of capital investments made in the construction of the apartment building (the first line) located at 77a, Zhovtnevaya Str., Poltava, which amounted to UAH 6.9m as of July 01, 2007 and increase of the building construction readiness up to 39.2%. At present, wall brickwork of the 6-storey apartment building is being conducted, metal and plastic windows are being installed and electric installation and sanitary engineering works are being carried out.
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
