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25.10.2007
Credit-Rating upgrades Runa`s bonds to uaB
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today upgraded to uaB from uaCCC the long-term credit rating assigned to UAH27.5m 2-year issue of registered housing bonds (A series) by Runa LLC (`Issuer` or `company`). The company`s principal activity is investment and construction. Today the company constructs a residential complex in the city of Yalta (Autonomous Republic of Crimea). To revise the rating Credit-Rating 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.
In the course of the rating`s revision procedure Credit-Rating took into account that the Issuer has increased investments to UAH26m in construction of elite-class Admiralteyskiy residential complex, situated 8-Б, Rudanskogo str. Yalta, with current construction readiness being over 60 per cent as of 2007 September-beginning.
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
