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24.09.2007
Credit rating to bond issue by Arkada PC 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 UAH8.2m 2-year issue of registered housing bonds by Kharkiv Oblast-based Arkada PC (`Issuer` or `company`). The company`s principal activity is wholesale trade of agricultural and of other goods in Ukraine and abroad, as well as investment and construction. Today the company constructs a 9-storied recreational and medical centre in the borough of Gurzuf, the Autonomous Republic of Crimea. To revise the rating the agency considered 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. The plus (+) or minus (-) modifier denotes rating`s relative status within major categories.
To revise the rating Credit-Rating took into account that the volume of investments into the project rose to UAH8.8m; the construction readiness of the building made up 75% as of July 27, 2007.
Information on all credit ratings assigned in accordance with the Ukrainian national scale may be found in 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
