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29.08.2007
Credit rating to bond issue by Regional Construction Investments LLC upgraded to uaB
Credit-Rating, a nationally-recognized credit rating agency in Ukraine, has today upgraded to uaB from uaCCC the long-term credit rating assigned to the registered housing bonds (A-N series) by Regional Construction Investments LLC (`Issuer` or `Company`) for the amount of UAH 100.3m with original maturity from two to four and a half years. The main company`s business is investment and construction. Today, the company carries out a project for the construction of a residential complex in the urban village of Kotsybinskoe, Kiev Oblast. 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.
In the course of the rating`s upgrade procedure the agency took into account that the volume of construction in progress located at 26-26A, Ponomareva Str., urban village of Kotsybinskoe, Kiev Oblast, increased to UAH 83.6m and as of June 20, 2007 the object was 30% completed.
Information on all the credit ratings assigned in accordance with the Ukrainian National Scale may be found in the REUTERS and BLOOMBERG Information Systems.
For further information, please contact:
Information and Analytic Department
Sergey Rozumyak +38 044 490 25 50
SRozumyak@credit-rating.com.ua
