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23.10.2007
Credit-Rating upgrades Apollo-H`s bonds to uaB-
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today upgraded to uaB- (uaB minus)/ stable outlook from uaCCC the long-term credit rating assigned to UAH17m 2 Ѕ-year issue of registered housing bonds (A, B series) issued by Mykolayiv Oblast-based Apollo-H LLC (`Issuer` or `company`). The company`s principal activity is investment and construction. Today the company constructs three-section 9-storied residential building with installed premises in the city of Yuzhnoukrainsk. 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.
`Stable` outlook indicates that there are no anticipated reasons to change the rating in the course of the year.
In the course of the rating`s revision procedure Credit-Rating took into account the fact that the company`s investments in the building situated 22, Lenina str., city of Yuzhnoukrainsk advanced to UAH2.3m, with the current building`s construction readiness making up 13 per cent.
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
