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04.07.2005
Credit rating assigned to 35 mln UAH bond issue of Mortgage company Arkada-Fund affirmed at uaA
Today independent rating agency “Credit Rating” announced about confirmation of a long term credit rating of “Mortgage Company “Arkada-Fond”Ltd. bonds issuance (series M) in the amount of 35 million UAH for the 3 year period of circulation at “uaA” level at Ukrainian national scale. The forecast of the rating is stable.
Confirming the rating of “Mortgage Company “Arkada-Fond”Ltd. it was taken into account that during the I quarter of 2005 the company continued to develop in compliance with tendencies that had been preplanned earlier.
The assets of the company grew up considerably (from 61 to 85,6 million UAH) wherefore the placement of the bonds (series M) was finished. Due to the downtrend in the open market in the last quarter of 2004 the company could place less 35 % of emission bonds. Therewith the tendency to gradual decrease of the margin of the basic asset of the company is still going on. Substantial changes in the assets and liabilities structure and in their (expiring, maturity) terms have taken place: current liabilities of the company were reduced to unessential level, and it sufficiently pushed up the liquidity indexes of “Mortgage Company “Arkada-Fond”Ltd. Low (poor) financial result in the period under review can be explained by season financial flows fluctuations. The activities of the emitter are still profitable.
Information about all ratings in Ukrainian national scale is available at the internet site of the company “Credit Rating” www.credit-rating.com.ua as well as at the special page of the credit agency in the REUTERS system.
