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10.04.2008
Credit-Rating assigns DEP-Service`s upcoming bond issue uaCC
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it assigned a long-term credit rating of uaCC to registered discount bonds (series A-E) to be issued by Kiev-based DEP-Service LLC (`Issuer` or `company`). The amount of the issue is UAH38.5m, with 7-year original maturity. The company`s principal activity is providing engineering services. In the course of analysis Credit-Rating considered Issuer`s financial statements for 2007 as well as its other inside information.
An obligor or a debt liability with uaCC credit rating is characterised with the VERY HIGH DEFAULT POSSIBILITY.
Factors maintaining the credit rating
- The real estate prices and demand have been growing over the past few years in the city of Kiev, where the Issuer is planning to operate.
Factors constraining the credit rating
- The Issuer has not been involved in active operations, with its net sales in 2007 making up UAH39.2K
- Instability in legislation and tax environment controlling both the construction industry and project financing.
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
