print
25.01.2006
“uaBB-” credit rating assigned to upcoming bond issue of ECOSORB Ltd
Today independent rating agency Credit-Rating announced the granting of a long-term "uaBB-" credit rating to a registered interest-free (target) bond issue by the Ukrainian consortium Ecosorb in the amount of UAH 16.5 million with a circulation period of three years. The company’s primary activities are investment and construction. Ecosorb is currently managing construction projects in the cities of Kyiv and Rivne as well as the autonomous republic of Crimea.
Factors supporting the credit rating’s level:
-
Experience in selling construction projects: the issuer has put two buildings into operation;
-
The issuer is participating in the construction of an accommodation complex in Kyiv,has received all licensing documents and moved the inhabitants from the houses located on the land allocated for construction;
-
Thre construction project which will be financed through the bond offering is in Kyiv, where real estate prices have kept growing over the last five years.
Factors restricting the credit rating’s level:
-
As of Dec. 1, 2006; the construction of the accommodation complex was at the beginning stage;
- Undetermined and unstable system of legal regulation and taxation of transactions connected with construction and fundraising.
Should you need more detailed information, please contact us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
