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17.02.2006
“uaCCC” credit rating assigned to upcoming bond issue of TF-Invest Ltd
Today independent rating agency Credit-rating announced granting of a long-term "uaCCC" credit rating to scheduled interest-free (target) bond issue by TF-Invest, Ltd (A-E series) in the amount of UAH 6.76 million with the maturity date on Dec. 31, 2008. 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:
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Recent growth of demand for apartments and commercial facilities in new buildings in Odessa and the current tendency in the primary market to raise prices on apartments which are subject of the target bonds of the issuer;
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Client and developer of the scheduled project is OJSC Chernomorgidrostroy which has 40 years of experience of real estate construction in Odessa region;
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OJSC Chernomorgidrostroy obtained almost all licensing documents for construction of residential complex (in particular land assignment permit, general design and so on), which is to financed through the bond issue.
Factors restricting the credit rating’s level:
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The issuer was registered in November 2005 which makes it harder to predict the company’s development dynamics;
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Lack of experience in public fund-raising for construction and sale of residential and commercial facilities;
- 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)
