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10.08.2005
"uaBB-" credit rating assigned to upcoming bond issue of ABC Inter-Invest, Ltd.
Independent rating agency Credit-Rating announced the award of a long term “uaBB-” credit rating to the issuance of registered passive (purpose) bonds of ABC Inter-Invest, Ltd. in the amount of 1,635 million UAH for a one year period of circulation. The company is active in finding financing for residential housing and commercial real estate construction and sale.
Positive factors that were taken into account in the rating:
- The issuer is the investor in the reconstruction of a hostel (turning it into a residential block of flats) in the center of the city of Kherson (90% of the amount of reconstruction work has been executed);
- The period of circulation of the bonds is one year and the term of the residential block coming into operation according to the plan is at the end of 2005;
- Increase of demand on apartments and commercial premises in newly built houses in the city of Kherson as well as the tendency for price rise for such premises which is the subject of the issuer’s registered passive (purpose) bonds issuance.
Negative factors that were taken into account in the rating:
- The issuer was registered in April 2005 and has no experience in the construction and sale of residential premises or in finding financing for construction.
- Unsettlement and tangibility of legislative regulation, taxation systems and operations connected with the construction industry, in particular with financial support.
Information about ratings on the Ukrainian national scale is available at the internet site of the company Credit-Rating at http://www.credit-rating.com.ua.
For more detailed information, please contact Dmitriy Zadesenets, Kyiv +38(044) 490-25-50, 490-25-54, cr@credit-rating.com.ua
