print
24.10.2007
Credit-Rating upgrades TF-Invest`s bonds 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 issue of housing bonds of A-E series and of F-M series by Odessa-based TF-Invest LLC (`Issuer` or `company`). The issue size and maturity are as follows: UAH6.8m with 2 ½-year maturity of A-E series and UAH17.2m 3-year maturity of F-M series. The company`s principal activity is investment and construction. Today the company implements 2 construction projects in the city of Odessa. To revise the rating the agency considered Issuer`s financial statements for 2Q and full 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. 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 increased volume of investments in construction of a residential complex in A-B blocks in Tairova residential district at the corner of 25th Chapayev`s division and M Zhukov av. (10-storied residential building #9), where the framework in 9th story was under construction as at July 20, 2007; the increased volume of investments in complex of residential buildings with in-built shop in 10a, M. Govorov str. (buildings ## 2, 8, 9) which construction readiness makes up 46 per cent, with readiness of #2 being 55 per cent, of #8 being 23 per cent, of #9 being 12 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
