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28.04.2006
uaCCC- credit rating assigned to upcoming bond issue of Regional Construction Investments, Ltd
Today independent rating agency Credit-Rating announced the granting of a long-term uaCCC- credit rating to the registered interest-free (target) bond issues (A-N series) by Regional Construction Investments, Ltd in the amount of UAH 100.3 million with a circulation period of 1.5 to 4.5 years. The companys main activity is investment and construction.
Factors supporting the credit rating's level :
- The Issuer is a building owner of residential complex in Kyiv suburbs Kotsyubinskogo urban settlement, where demand for accommodation and commercial facilities grows together with demand in Kyiv;
- Residential complex is to be constructed on a land plot 4.4791 hectares in area, owned by the Issuer.
Factors restricting the credit rating's level :
- The Issuer has no experience in construction of residential houses, neither in bond redemption by providing accommodation and commercial facilities to their holders;
- Construction of residential complex to be financed through bond offering is at the beginning sage of approving documents for construction start;
- Risks due to the immensity of the project: scheduled bond issue (UAH 100.3 million) exceeds the Issuers total balance by 37 times;
- 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)
