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27.03.2006
"uaCC" credit rating assigned to upcoming bond issue of Brovaryrealinvest, Ltd
Today independent rating agency Credit-Rating announced the granting of a long-term uaCC credit rating to the registered interest-free (target) bond issue (A-M series) by Brovaryrealinvest, Ltd in the amount of UAH 26.4 million with a circulation period of 1.5 years. The main trend of the companys activity is investment and construction. Brovaryrealinvest, Ltd is currently managing a construction project of multi-storied building in the town of Brovary.
Factors supporting the credit ratings level :
- The Issuer is managing a construction project of a residential house in a suburb district of Kyiv Brovary where there is a growing demand for residential and commercial facilities.
Factors restricting the credit ratings level:
- The Issuer has no experience in either construction and sales of accommodation or public fundraising for construction;
- The bond issue volume as of 12.31.2005 exceeds by 487 times the Issuers total balance;
- Negative value of the owned capital during 2003-2005 due to uncovered loss (at the end of 2005 UAH 46 thousand);
- As of 03.02.2006 the construction project is at the stage of approving the licensing documents which complicates the forecast of the construction commencement and consequently fulfillment of obligations under the terms of the bond issue;
- Undetermined and unstable legal system of regulation and taxation of construction and fundraising operations.
For more detailed information, please contact
us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
