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14.04.2006
"uaA" credit rating assigned to upcoming bond issue of Arkada-Fund, Hypothecary company Ltd
Today independent rating agency Credit-Rating announced the granting of a long-term uaA credit rating to the registered interest-bearing bond issue by Mortgage Company Arkada-fond, Ltd (R series) in the amount of UAH 200 million with a circulation period till 08.24.2010.
Factors supporting the credit rating's level :
- Mortgage Company Arkada-fond, Ltd is a SPV (special purpose entity) of Joint-Stock Commercial Bank Arkada that has a long-term credit rating of investment level (uaA, stable forecast);
- Requirements to credit agreements of JSCB Arkada owned by Mortgage Company Arkada-fond, Ltd are supported with the mortgage of finished accommodation;
- Due to the use of infrastructure of JSCB Arkada the company has low operating expenses and promptly responds to changes in market environment;
- Bonds of Mortgage Company Arkada-fond, Ltd maintain strong positions in Ukrainian market of corporate liabilities and have high ratio of turnover in the secondary market. JSCB Arkada constantly supports bilateral quotations of bonds of Mortgage Company Arkada-fond, Ltd, and the company purchases back its liabilities at the buyers request at price not lower than face value;
- The company has rich experience in Ukrainian stock market total volume of offered bonds of its own issuance is UAH 443 million, including redeemed bonds with total cost of UAH 149 million, interest on them is paid in time and full.
Factors restricting the credit rating's level :
- Undiversified activity of Mortgage Company Arkada-fond, Ltd heightens the companys susceptibility to market risks;
- Due to exclusive dependence of Mortgage Company Arkada-fond, Ltd on JSCB Arkada, the companys risks are tied to the banks risks;
- Tendency to decrease the yield margin of the companys main activity can have a negative impact on income forming in the long prospect.
For more detailed information, please contact
us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
