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29.04.2009
Credit-Rating downgrades Omega LLC’s bonds to uaC
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it downgraded to uaC from uaBB the long-term credit rating assigned to registered coupon bonds (series A) issued by Dnipropetrovsk-based Omega LLC (`issuer` or `company`) for the amount of UAH50m. The outlook on the rating has been changed to negative. The company`s core business is foodstuff and non-food retailing. To revise the rating Credit-Rating considered issuer`s financial statements for 4Q08 and full 2008 and its other inside information.
The uaC rating denotes that the obligor is EXPECTED TO DEFAULT on its debt liabilities.
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.
This rating action has been prompted by imposing the moratorium on meeting the creditors` claims for the period of 12 months and initiating the procedure of issuer`s bankruptcy.
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
