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25.11.2005
“uaBBB-” credit rating assigned to upcoming bond issue of «Financial Company «TEKT-REALTY» Ltd
Today the independent rating agency announced the assignment of a long term «uaBBB-» credit rating to the issue of registered interest bearing bonds of «Financial Company «TEKT-REALTY» Ltd for 10 million UAH with three year circulation period. Offering services in commercial real estate market is the major activity sphere of the company. Currently the issuer is engaged in the construction of a modern business-centre in Kharkiv. In the process of analyzing «Credit-Rating» agency has used a complete financial statement of the issuer, as well as internal information, given by the company.
Factors supporting the rating level:
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The issuer is the member of «TEKT» group of companies, which has ten year successful experience in financial market and holds top position among stock market professional operators;
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The possibility of bond issue guarantee agreement on owner’s demand;
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The issuer’s construction project of office premises of “A” class in Kharkiv and significant demand for such;
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Positive experience of every of 6 development project, completed by “TEKT” companies group during its lifetime
Factors restricting the rating level:
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Low and unstable indices of issuer’s financial and economic activity;
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The issuer’s own capital’s negative value during 2000-2002, caused by unprofitable activity;
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The issuer’s strong dependence upon “TEKT” group of companies, - the issuer’s activity risks are integral to the group’s risks.
Information on the assigned credit ratings according to the Ukrainian national scale is available at the internet site of «Credit-Rating» company www.credit-rating.com.ua, as well as in informational systems of REUTERS and BLOOMBERG
Should you need more detailed information, please contact Dmitriy Zadesenets,
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
