print
24.02.2006
“uaBBB” credit rating assigned to upcoming bond issue of "FOXTROT TELECOM" Ltd
Today independent rating agency Credit-Rating announced the granting of a long-term "uaBBB" credit rating to the registered interest-bearing bond issue by Foxtrot-Telecom, Ltd in the amount of UAH 50 million with a circulation period of 2.5 years. The main line of the company’s activity is wholesale and retail trade of cell phones, starting packages and cell phone cards.
Factors supporting the credit rating’s level:
-
Guaranty on bonds by Foxtrot-Telecom, Ltd on the part of Foxtrot company group, in particular Foxtrot Ltd, Flamenko Ltd, Foxtrot-Auto Ltd (each client can make a guaranty agreement with one of the listed companies);
-
The issuer’s membership in a company group with diversified activities which ensures stable money flows;
-
Foxtrot-Telecom, Ltd operates in the mobile phone and mobile communication market where the growth rates were very high over the few past years.
Factors restricting the credit rating’s level:
-
The issue volume is twice larger than the assets of Foxtrot-Telecom, Ltd;
-
The issuer’s unprofitable activity over the whole period of its existence, the volume of uncovered losses was UAH 409.6 thousand as of 07.01.2005;
-
The issuer’s dependency on Foxtrot company group the risks of which are integral with the issuer’s risks.
Should you need more detailed information, please contact us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
