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27.08.2007
Credit rating to bond issue by Ukrgasbank OJSB upgraded to uaAA-
Credit-Rating, a nationally-recognized credit rating agency in Ukraine, has today upgraded to uaAA- (uaAA minus) from uaA+ (uaA plus) the long-term credit rating assigned to UAH50m 3-year issue of registered mortgage bonds (B series) by the Kiev-based Ukrgasbank OJSB (`Bank`). In course of the rating`s revision procedure, Credit-Rating used Bank`s financial statements for 2006 and 1H2007 as well as other inside information furnished by the company
An obligor or a debt liability with uaAA credit rating is characterized with the VERY STRONG creditworthiness as compared to other Ukrainian obligors or debt liabilities. 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 the Issuer`s liabilities on the mortgage bonds are secured by the mortgage cover, the volume of which amounted to UAH 56.3m as of July 01, 2007; the bond holders have a higher priority above the rights and demands of other persons regarding the mortgage cover. Besides, the Issuer is the second group bank and has a credit rating of uaA according to the Ukrainian National Credit Rating Scale.
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
