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05.03.2009
Credit-Rating places RUSH LLC`s ratings on Rating Watch List
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it placed on Rating Watch List (`RWL`) the long-term credit ratings of uaBB assigned to Dnepropetrovsk-based RUSH LLC (`issuer` or `company`) and its registered coupon bonds for the total amount of UAH70m (series A due Feb. 24, 2010 and series B due Jul. 11, 2010). The outlook on the rating is negative.
This rating action has been prompted by the fact that the company has not made payments in full on the series A bonds, which was planned for Mar. 1, 2009. Further rating actions regarding the company and its bond issues will be contingent upon company`s successful negotiating with the bondholders on restructuring the obligations and further timely repayments on the issues.
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.
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.
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.
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
