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02.03.2006
“uaB-” credit rating assigned to upcoming bond issue of "CRIMEABUDINVEST" Ltd
Today independent rating agency Credit-Rating announced the granting of a long-term “uaB-“ credit rating to the scheduled registered interest-free (target) bond issue (A-C series) by Krymstroyinvest, Ltd (Zaporozhye) in the amount of UAH 15.2 million with a circulation period of 2 years and 3 months. The company’s main trend of activity is fund-raising for construction and sales of accommodation and commercial real estate.
Factors supporting the credit rating’s level:
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Dynamic development of accommodation and commercial real estate market in Yalta due to stable high demand for real estate in recreation zone and good prospects for development of first class accommodation market on the southern shore of the Crimea;
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Construction project which is to be financed through the bond offering will be realized though completion of unfinished facility owned by CJSC Yalita; the construction of the facility is 60% to 95% completed in different sections.
Factors restricting the credit rating’s level:
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The lack of experience in either construction and sales of accommodation complexes or public fund-raising for construction;
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As of 02.17.2005 no documents are registered for the rent of the land plot where the unfinished facility is located;
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Undetermined and unstable system of legal regulation and taxation of transactions connected with construction and fund-raising.
Should you need more detailed information, please contact us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
