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31.08.2007
Credit rating to bond issue by Chernigov-Prospect 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 UAH16.5m year and a half issue of registered housing bonds (A, B series) by the Chernigov-based Chernigov-Prospect LLC (`Issuer` or `Company`). The main company`s business is investment and construction. Today, the company carries out a project for the construction of a 9-storey apartment building in the city of Chernigov. In course of the rating`s revision procedure, Credit-Rating used Issuer`s financial statements for 2Q2007 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 that the volume of construction in progress located at 2A, Samostrova Str., Chernigov, increased to UAH 11m and as of July 20, 2007 the building was 83.8% completed.
Information on all the credit ratings assigned in accordance with the Ukrainian National Scale may be foundin 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
