print
10.12.2007
Credit-Rating upgrades LVB`s bonds to uaCCC+
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today upgraded to uaCCC+ (uaCCC plus) from uaCCC the long-term credit rating assigned to UAH32.5m 2 Ѕ-year registered housing bonds (A series) issued by Lviv-based LVB LLC (`Issuer` or `company`). Credit-Rating has also revised the outlook on the rating to stable from positive. The company`s primary activity is investing and construction. Today the company implements a project on construction of a complex of residential buildings in the city of Lviv. To revise the rating Credit-Rating considered Issuer`s financial statements for 3Q and full 9M2007 as well as other inside information furnished by the company.
An obligor or a debt liability with uaCCC credit rating is characterized with the VERY LOW creditworthiness as compared to other Ukrainian obligors or debt liabilities. There is a default possibility. 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 volume of investments in construction of the residential complex situated in 23, Golovatskogo str., Lviv has been raised to UAH20m (UAH10.2m as at mid-July 2007). According to the company the complex`s construction readiness is currently 70 per cent (35 per cent as at mid-July 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
