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03.04.2008
Credit-Rating upgrades Pobutservice`s bonds to uaBB+
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it upgraded to uaBB+ (uaBB plus) from uaBB the long-term credit rating assigned to registered housing bonds (series C-H) issued by Sumy-based Industrial and Commercial Firm Pobutservice LLC (`Issuer` or `company`). The amount of the issue is UAH42m, with 3-year original maturity. The agency has also revised the rating outlook to stable. The company`s principal activity is investing and construction. Today the company constructs 6 residential buildings located in the city of Sumy. To revise the rating the agency considered Issuer`s financial statements for 4Q2007 and its other inside information.
An obligor or a debt liability with uaBB credit rating is characterized with the LOWER THAN SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is strongly affected by adverse changes in commercial, financial and economic conditions. A plus "+" and a minus "-" signs indicate intermediary categories compared to the standard categories (grades).
Stable outlook indicates that there are no anticipated reasons to change rating in the course of the year.
In the course of the rating`s revision procedure Credit-Rating took into account the expected redemption of the housing bonds of series C, D and E, which were issued for funding the construction of residential buildings located 55A, Internationalistov st., 3/1, Veretenkovskaya st., 24, Nizhnesyrovatskaya st., city of Sumy.
Information on all credit ratings assigned in accordance with the National Rating Scale may be found in REUTERS and BLOOMBERG information systems.
For more information, please contact:
Information and Communication Department
Sergey Rozumyak +38 044 490 25 50
SRozumyak@credit-rating.com.ua
