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18.04.2006
"uaCC" credit rating assigned to upcoming bond issue of OBIO, 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-O series) by OBIO, Ltd (Kyiv) in the amount of UAH 272.1 million with a circulation period till 18.01.2010. Main trend of the companys activity is investment and construction. OBIO, Ltd is currently managing the construction of residential and office complex in Obolon district of Kyiv.
Factors supporting the credit rating's level :
- The Issuer is involved in the activity related to organization and financing of accommodation construction in Kyiv, where accommodation prices kept growing over the past five years.
Factors restricting the credit rating's level :
- The issuer has no experience in construction and sales of accommodation facilities, neither in public fund raising for construction financing;
- Lack of basic licensing documents for construction (in particular permit for construction works), its works are to be financed through the bond issue;
- Risks connected with the immensity of the project: the scheduled bond issue (UAH 272.1 million) exceeds 168 times the total balance;
- Undetermined and unstable system of legal regulation and taxation of operations with construction and fund-raising.
For more detailed information, please contact
us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
