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16.02.2009
Credit-Rating downgrades AGRO PE to uaCCC
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it downgraded to uaCCC from uaBB the long-term credit rating assigned to Lugansk-based Agro Private Enterprise ('issuer' or 'company') and its registered coupon bonds (series A) for the amount of UAH50m due Oct. 28, 2010. The outlook on the rating is negative.
These rating actions have been prompted by companys failure to perform payments on series A bonds, which had to occur on Jan. 30, 2009. Further rating actions with regard to the company and its bond issue will be contingent upon arrangement on restructuring the debt and its timely repayment.
An obligor or a debt liability with uaCCC credit rating is characterized with the VERY LOW creditworthiness as compared to other Ukrainian obligors or debt liabilities. There is a default possibility.
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
Denis Rudenko
DRudenko@credit-rating.ua
