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07.04.2008
Credit-Rating upgrades Miskzhytlobud`s bonds to uaBB-
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it upgraded to uaBB- (uaBB minus) from uaB the long-term credit rating assigned to registered housing bonds (series D-J and K-Q) issued by Kiev-based Miskzhytlobud Construction Company LLC (`Issuer` or `company`). The amount of the issue is UAH186m and UAH450.5m respectively to the series said, with 2 ½-year original maturity. The agency has also revised the outlook on the ratings to stable. The company`s principal activity is investing and construction. Today the company reconstructs a non-residential building and constructs a residential complex located in the city of Kiev. To revise the rating the agency considered Issuer`s financial statements for 4Q and full 2007 as well as 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 housing bonds of series A-F, which have been issued for funding the construction of a residential building #1, located 13, Goloseyevskaya st., city of Kiev.
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
