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13.12.2010
Credit-Rating: November saw 2 technical defaults on bonds with speculative ratings
Credit-Rating, a nationally recognized credit rating agency in Ukraine has today published statistical data on redemption of bond issues in November 2010 bearing agency’s ratings. According to issue prospectuses 9 rated and outstanding bond issues for overall amount of UAH593.5m matured in November (4 issues of interest-bearing bonds and 5 issues of housing bonds). Basing on the data furnished to the agency, out of all bond issues 2 issues of housing bonds were not repaid on time, with 1 issue of interest-beating bonds accompanied by no information from the issuer with regard to the redemption procedure provided to the agency.
In November technical defaults were reported by issues of housing bonds in the amounts of UAH62.3m and UAH119.3m. The construction projects, where immovable property was supposed to redeem the bonds, are currently on different stages of construction ranging from high readiness to the stage of commissioning. Thereat the issuers are planning to redeem the bonds upon delivery of the buildings. Credit ratings of the issues defaulted in November 2010 pertained to speculative grade of the national rating scale.
Credit-Rating agency has operated in the Ukrainian market since 2001 being committed to assignment of the national scale ratings. The agency has assigned 1117 ratings. In November the agency assigned 2 ratings, revised 73 ratings, suspended 7 ratings and withdrew 7 ratings. As of December 1, 2010 the agency’s list of ratings contains 611 credit ratings: 453 in the corporate, 104 in the financial, and 54 in the municipal sectors.
Information on all credit ratings assigned in accordance with the National Rating Scale may be found in THOMSON REUTERS and BLOOMBERG information systems.
For more information, please contact:
Department of
Information and Communications
Sergey Rozumyak +38044490 25 50
mailto:SRozumyak@credit-rating.com.ua
Denis
Rudenko
DRudenko@credit-rating.ua
