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14.12.2007
Credit-Rating upgrades Ukrzhylstroy Plus`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 UAH28m 4-year registered housing bonds (A-D series) issued by Illichevsk-based Ukrzhylstroy Plus LLC (`Issuer` or `company`). Credit-Rating has also revised the rating outlook to Stable from Positive. The company`s primary activity is investing and construction. Today the company constructs 4 buildings in the city of Illichevsk. In the course of analysis 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 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 increase to UAH32.2m in the volume of investments in residential district situated Khantadze str., city of Illichevsk (8 buildings), with one building already delivered, and the construction readiness of two others exceeding 40 per cent.
Information on all credit ratings assigned in accordance with the Ukrainian national scale may be found in REUTERS and BLOOMBERG information systems.
For further information, please contact:
Information and analytic department
Sergey Rozumyak +38 044 490 25 50
SRozumyak@credit-rating.com.ua
