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11.09.2007
Bond issue by Eksko Plus LLC assigned uaAAA credit rating
Credit-Rating, a nationally-recognized credit rating agency in Ukraine, has today announced the assignment of uaAAA long-term credit rating to UAH 363.3m 3-year issue of registered housing bonds (A-M series) by the Kiev-based Eksko Plus LLC (`Issuer` or `Company`). The company`s principal business is investment and construction. At present, the company carries out a project for the construction of the Park Avenue Residential Complex in the city of Kiev. In the course of analysis, Credit-Rating considered the Issuer`s financial statements for 2004-2006 and 1Q2007 as well as other inside information furnished by the company.
An obligor or a debt liability with uaAAA credit rating is characterized with the HIGHEST creditworthiness as compared to other Ukrainian obligors or debt liabilities.
Factors maintaining a credit rating
- The Issuer is given financial, legal, engineering and technical support by Beny Steinmetz Group (BSG), which has more than 60 years experience in international markets of diamonds, investments, metals, engineering, oil, gas and power engineering, processing industry and real estate;
- Indirectly, the Issuer belongs to Scorpio Real Estate Ltd., which has a wide experience in construction of estate property of 12.5 million m2 total area in different countries of the world (USA, Canada, France, Italy and Great Britain);
- The cash received from the housing bond offering will be used for carrying out a project for the construction of the Park Avenue Residential Complex located at 60, Sorokoletie Oktyabrya Avenue, Goloseevsky district, Kiev. The general contractor is Uralbud-Ukraine LLC, a structural subdivision of PROMER Group of Companies, which has international construction experience. Over the past eight years the group has built the estate property of 368 200 m2 in the CIS countries;
- High level of the Issuer`s information openness and transparency.
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
