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21.04.2009
Credit-Rating downgrades Insakharprom-K LLC’s ratings to uaD
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it downgraded to uaD from uaCCC the long-term credit rating assigned to Odessa-based Insakharprom-K LLC (issuer or company) and its registered coupon bonds for UAH50m due Apr. 21, 2010.
The credit rating of uaD indicates DEFAULT. The payment of principal and interest on a debt liability has stopped, without any agreement reached with creditors on the restructuring of the debt before payment became due.
These rating actions have been prompted by the fact that Credit-Rating has obtained no documents proving that the issuer reached agreement with its creditors on restructuring its obligations, namely its coupon payments on series A bonds, which had to occur on Jan. 25, 2009.
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
