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04.09.2007
Credit ratings to bond issues by OBIO LLC upgraded to uaB-
Credit-Rating, a nationally-recognized credit rating agency in Ukraine, has today upgraded from uaCCC to uaB- the long-term credit rating assigned to registered interest bonds (A-O series) and (P series) issued by the Kiev-based OBIO LLC (`Issuer` or `Company`) for the amount of UAH 272.1 (A-O series) and of UAH 60.4m (P series) with the 4-year and 3-year original maturity respectively. The company`s main business is investment and construction. At present, the company carries out a project for the construction of a residential and office complex in the city of Kiev. 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 5A, Mayorova Str., Minsky district, Kiev, increased to UAH 42.5m and as of June 20, 2007 the object was 12% 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
