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11.11.2005
“uaCC” credit rating assigned to upcoming bond issue of "SibInvestBud" Ltd
Today the independent rating agency announced the assignment of a long term «uaCC» credit rating to the issue of registered convertible bonds of «SibInvestStroy» Ltd for 9,99 million UAH with two year circulation period. Investment building is the major activity sphere of the company. In the process of investigation «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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Growing demand for flats and premises in new buildings of Rovno city and the tendency to price rising.
Factors restricting the rating level:
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The issuer was registered on the 28th of July, 2005 and has no experience in dwelling houses building and sale, as well as in public fund borrowing for construction investment;
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By October 27, 2005, the issuer didn’t receive the permission for construction works, that’s why it’s difficult to prospect the beginning of the process and fulfillment of bonds issue obligations;
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Unsettled state of regulations and taxation of construction-related activities and public borrowing.
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)
