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28.08.2007
Credit rating to bond issue by Avtokom LLC 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 registered housing bonds (A-W series) by the Yalta-based Avtokom LLC (`Issuer` or `Company`) for the amount of UAH 30m with two and a half year original maturity. The main company`s business is investment and construction. Today the company carries out a project for the construction of a health centre in the urban village of Gaspra, Crimea. To revise the rating, the agency used Issuer`s financial statements for 2Q2007 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 the course of the rating`s upgrade procedure the agency took into account that the volume of construction in progress located at building #2, Alupkinskoe Schosse, urban village of Gaspra, Crimea, increased to UAH 16.8m and as of July 20, 2007 the object was 73% 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
