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24.11.2008
Credit-Rating downgrades Kyivmedpreparat OJSC`s bonds
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it downgraded the long-term credit rating assigned to registered coupon bonds (series A) issued by Kiev-based Kyivmedpreparat OJSC (`issuer` or `company`) to uaBB/Negative outlook from uaBBB/Negative outlook with the rating remaining on the Rating Watch List. The amount of the issue is UAH30m due Nov. 15, 2010.
The rating was placed on RWL on Nov. 14, 2008 carrying negative outlook.
The rating`s downgrade was prompted by delays in repayments of borrowers` offers (Nov. 18, 2008 - Nov. 21, 2008) on company`s bonds of series `A`. The rating will be removed from the RWL after the issuer negotiated with the bondholders the repayment procedure of the bonds.
The Rating Watch List intends for informing the financial market participants about possible changes of ratings in short-term prospective. The rating placed on RWL denotes that Credit-Rating is currently considering its change as a result of events or ongoing negative trends, which may negatively affect creditworthiness of a rating`s bearer.
Negative outlook indicates that there is a possibility to downgrade the rating in the course of the year, on condition that negative tendencies are retained and current risks are realized.
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 analytic department
Sergey Rozumyak +38 044 490 25 50
SRozumyak@credit-rating.ua
