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28.07.2009
Credit-Rating downgrades Nidan+ LLC’s bonds to uaC
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it downgraded to uaC from uaCCC the long-term credit rating assigned to registered coupon bonds (series A) issued by Kiev-based Nidan+ LLC (‘issuer’ or ‘company’). The amount of the issue is UAH50m due May 30, 2011. The outlook on the rating is negative. The company’s principal activity is production of juices, juice-containing beverages and of wine.
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 is in response to decision of the Economic Court of Zakarpatya Oblast dated June 26, 2009 on initiating proceedings on the case #5/73 on issuer’s bankruptcy. Further changes of the company’s rating will be contingent upon outcomes of the bankruptcy procedure.
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 +38044490 25 50
SRozumyak@credit-rating.com.ua
Denis
Rudenko
DRudenko@credit-rating.ua
