print 08.01.2008

Credit-Rating’s rating actions in December 2007

December saw 37 ratings assigned by Credit-Rating, 11 ratings were upgraded, 1 rating was downgraded, outlooks on 16 ratings were revised, 10 ratings were suspended, and 1 rating was placed on Rating Watch List.

ISSUER RATINGS

Municipalities

Dec. 13  City of Boryspil assigned a long-term investment-grade rating of uaA with Stable outlook.

Dec. 14  City of Zhytomyr assigned a long-term investment-grade rating of uaBBB with Stable outlook.

Dec. 17  The long-term credit rating of uaA assigned to the city of Donetsk was upgraded to uaAA /Stable outlook.

Dec. 27  City of Kramatorsk assigned a long-term investment-grade rating of uaBBB- / Stable outlook.

Financial sector

Dec. 4  Kiev-based BROKBIZNES Insurance Company CJSC assigned a long-term speculative-grade rating of uaBB.

Dec. 7  Kiev-based Clearing House Joint-Stock Bank assigned a long-term investment-grade rating of uaBBB.

Dec. 19  A long-term credit rating of uaBBB assigned to Kharkiv-based Faktorial-Bank JSB was upgraded to (provisional) uaA .

Dec. 20  A long-term investment-grade rating of uaBBB- assigned to Kiev-based European Bank for Development and Savings was placed on Rating Watch List. The outlook on the rating is Negative.

ISSUE RATINGS

Municipalities

Dec. 13  A long-term investment-grade rating of uaA /Stable outlook was assigned to Boryspil city councils UAH9m 5-year issue of coupon bonds (A series).

Dec. 14  A long-term investment-grade rating of uaBBB /Stable outlook was assigned to Zhytomyr city councils upcoming UAH20m 3-year issue of coupon bonds.

Dec. 17  A long-term investment-grade rating of uaA assigned to Donetsk city councils UAH50m 5-year issue of coupon bonds (C series) was upgraded to uaAA/Stable outlook.

Dec. 18  A long-term investment-grade rating of uaA assigned to Zapirizhya city councils UAH75m issue of coupon bonds (B-E series) due 2010 was upgraded to uaAA-/Stable outlook.

Dec. 27  A long-term investment-grade rating of uaBBB-/Stable outlook was assigned to Kramatorsk city councils upcoming UAH15m 5-year issue of coupon bonds (1-A series).

Corporate sector

Dec. 3  A long-term speculative-grade rating of uaBB- was assigned to UAH22m 3-year registered housing bonds (D series) issued by Kiev-based Ekobud LLC.

Dec. 4  A long-term speculative-grade rating of uaB was assigned to UAH50m 5-year registered coupon bonds (A series) to be issued by Chernihiv Oblast-based Bakhmach Machine-Building Plant.

Dec. 5  A long-term investment-grade rating of uaBBB- was assigned to UAH50m 5-year registered coupon bonds (A series) to be issued by Poltava Oblast-based Globyno Meat-Packing Plant LLC.

Dec. 5  A long-term speculative-grade rating of uaBB was assigned to UAH50m 5-year registered coupon bonds (A series) to be issued by Odessa-based Odessa Trade House Sonyachna Dolyna LLC.

Dec. 6  A long-term speculative-grade rating of uaB+ was assigned to UAH116.7m 3-year registered housing bonds (A-D series) issued by Odessa-based OFPRODIV LLC.

Dec. 6  A long-term speculative-grade rating of uaB was assigned to UAH134m 2-year registered housing bonds (A-C series) to be issued by Odessa-based Scientific and Commercial Firm Tiras LLC.

Dec. 7  A long-term speculative-grade rating of uaB was assigned to UAH25m 9-year registered discount bonds (A series) to be issued by Kiev-based Standart LLC.

Dec. 10  A long-term credit rating assigned to UAH32.5m 2 1/2-year registered housing bonds (A series) issued by Lviv-based LCB LLC was upgraded to uaCCC+ from uaCCC with the outlook on the rating revised to Stable.

Dec. 11  A long-term credit rating assigned to UAH5m 5-year registered coupon bonds (A series) issued by Cherkasy Oblast-based Vitaminy OJSC was downgraded to uaCCC from uaBB with Negative outlook and placed on Rating Watch List.

Dec. 11  A long-term speculative-grade rating of uaB was assigned to UAH11.6m 1 Ѕ-year registered housing bonds (E-J series) issued by Kiev-based KETAM LLC.

Dec. 12  A short-term investment-grade rating of uaK3 was assigned to UAH22.8m 4-month registered housing bonds to be issued by Kiev-based Firma Astarta-Centre OJSC.

Dec. 12  A long-term speculative-grade rating of uaB was assigned to UAH291.6m 2-year registered housing bonds (O, P series) issued by Kiev Oblast-based Regional Construction Investments LLC.

Dec. 13  A long-term speculative-grade rating of uaB- was assigned to UAH169.4m 3-year registered housing bonds (N-S series) to be issued by Kiev-based Budspetsservice LLC.

Dec. 14  A long-term credit rating assigned to UAH28m 4-year registered housing bonds (A-D series) issued by Illichevsk-based Ukrzhylstroy Plus LLC was upgraded to uaB+ from uaB- with the outlook on the rating revised to Stable .

Dec. 17  A long-term speculative-grade rating of uaCCC was assigned to UAH48m 2-year registered housing bonds (A-O series) to be issued by
Kiev Oblast-based VASYLKIV ZHYLBUD LLC.

Dec. 18  A long-term speculative-grade rating of uaB- was assigned to UAH112.06m and UAH121.5m 1 Ѕ-year registered housing bonds (H-J and K-M series respectively) issued by Kiev Oblast-based Budspetsservice LLC.

Dec. 19  A long-term speculative-grade rating of uaB+ was assigned to UAH62m 2-year registered housing bonds (E-H series) to be issued by Illichevsk-based Ukrzhylstroy Plus LLC.

Dec. 20  A long-term credit rating assigned to UAH46.1m 1 Ѕ-year registered housing bonds (E-I series) issued by Kiev-based Zhytlo Kyianam LLC was upgraded to uaB+ from uaB with the outlook on the rating being Stable.

Dec. 25  A short-term speculative-grade rating of uaK4 was assigned to UAH7.1m 6-month registered housing bonds (A series) to be issued by Chernivtsi-based Bukovyna Invest-Bud LLC.

Dec. 26  A long-term investment-grade rating of uaBBB+ was assigned to UAH80.2m 1 1/2-year registered housing bonds to be issued by Dnepropetrovsk-based Scientific and Manufacturing Association Sozidatel CJSC.

Dec. 28  A long-term credit rating assigned to UAH26m 5-year registered housing bonds (A-B series) issued by Odessa-based Brokerage Firm BASTMA LLC was upgraded to uaB+ from uaB- with the outlook on the rating being Stable.

Financial sector

Dec. 10  A long-term investment-grade rating of uaBBB was assigned to UAH50m 5-year registered coupon bonds (A series) to be issued by Kharkiv-based Zembank JSCB.

Dec. 20  A long-term investment-grade rating of uaA was assigned to UAH150m 3-year registered coupon bonds (B series) issued by Odessa-based IMEXBANK JSCB.

Dec. 24  A long-term investment-grade rating of uaA (provisional) was assigned to UAH100m 5-year registered coupon bonds (A series) to be issued by Kharkiv-based Faktorial-Bank JSB.

Dec. 28  A long-term investment-grade rating of uaBBB- was assigned to UAH80m 3-year coupon bonds to be issued by Kiev-based TAS-Businessbank JSB.

Credit-Rating agency has operated in the Ukrainian market since 2001 being committed to assignment of the national scale ratings . The agency has assigned 755 ratings, specifically to 575 Ukrainian companies, 140 financial institutions and 40 municipalities, and 1 corporate governance rating.

As of January 1, 2008 Credit-Rating maintains monitoring of 660 ratings, in fact 495 of corporate, 132 of financial and 33 of municipal sectors.