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25.09.2007
Credit rating to bond issue by Gorstroyinvest upgraded to uaBB-
Credit-Rating, a nationally-recognized credit rating agency in Ukraine has today upgraded to uaBB- (uaBB minus) from uaB- (uaB minus) the long-term credit rating assigned to UAH47.5m 3-year issue of registered housing bonds (D and E series) by Kiev-based Gorstroyinvest Construction Company LLC (`Issuer` or `company`). The company`s principal activity is construction, wholesale trade of construction materials and broking in real estate market. Today the company implements a construction project in the borough of Boyarka, in Kiev Oblast. 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 uaBB credit rating is characterized with the LOWER THAN SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is strongly affected by adverse changes in commercial, financial and economic conditions. The plus (+) or minus (-) modifier denotes rating`s relative status within major categories.
In the course of the rating`s revision procedure Credit-Rating took into account that the company redeemed bonds of B series prior to maturity.
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
