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16.02.2006
“uaB” credit rating assigned to upcoming bond issue of «Ukrsotsstroy» Ltd
Today independent rating agency Credit-Rating announced granting of a long-term "uaB" credit rating to scheduled registered interest-free (target) bond issue by Ukrsotsstroy, Ltd (A-F, Z series) in the amount of UAH 3.7 million with a circulation period of 16 months. The main trend of the company’s activity is fund-raising for construction and sale of residential and commercial real estate.
Factors supporting the credit rating’s level:
- Main founder member of the issuer is JSCB Ukrsotsbank (99% of the authorized fund), one of the top banks according to classification by National Bank of Ukraine, is able if necessary to render financial support to the issuer, though the bank does not provide a surety on this issue;
- Basic licensing documents for construction of residential building which is to be financed through bond offering.
Factors restricting the credit rating’s level:
- The issuer was registered in June, 2005, which makes it harder to assess the company’s development dynamics;
- Lack of experience in selling of construction facilities including redemption of bonds by providing living area;
- The construction of residential building which is to be financed through bond offering is at the beginning stage;
- Undetermined and unstable system of legal regulation and taxation of transactions connected with construction and in particular with finance-raising.
Should you need more detailed information, please contact us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
