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30.12.2009
Credit-Rating upgrades Stroitelnaya Firma LLC’s bonds to uaBBB-
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it upgraded to uaBBB- (uaBBB minus) from uaBB the long-term credit rating assigned to registered coupon bonds (series A) issued by Odessa-based Stroitelnaya Firma LLC (‘issuer’ or ‘company’). The amount of the issue is UAH8m, due March 28, 2012. The outlook on the rating is stable. The company’s core business is construction works as a general contractor and a contractor, and activities in architecture, engineering and developing, and building materials retailing. Today the company constructs 4 residential buildings located in the city of Odessa. To revise the rating Credit-Rating considered issuer’s financial statements for 3Q and 9M2009 and its other inside information.
An obligor or a debt liability with uaBBB credit rating is characterized with the SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is affected by adverse changes in commercial, financial and economic conditions. A plus "+" and a minus "-" signs indicate intermediary categories compared to the standard categories (grades).
Stable outlook indicates that there are no anticipated reasons to change the rating in the course of the year. This is outlook by default.
Factors maintaining the credit rating
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The guarantee dated Sep. 5, 2006 by IMEXBANK JSC for the bonds of series A (the bank’s debt issue is rated uaBBB-/stable outlook).
Factors constraining the credit rating
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Risks associated with redistribution of funds within the group’s companies.
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Poor issuer’s information transparency.
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
