print
05.05.2006
uaBBB- credit rating assigned to upcoming bond issue of Construction Center "Sozidatel", Ltd
Today independent rating agency Credit-Rating announced the granting of a long-term uaBBB- credit rating to the scheduled registered interest-free (target) bond issue (A G series) by Financial Construction Center Sozidatel, Ltd (Dnipropetrovsk) in the amount of UAH 144.9 million with a circulation period of 1.5 to 3 years. The companys main activity is investment and construction. At the moment of credit rating assignment Financial Construction Center Sozidatel, Ltd did not manage any economic activity. In the process of analysis Credit-Rating agency used complete financial reports of Closed Joint-stock company Science and Production Association Sozidatel, the company which is to manage the construction and whose activity affects the Issuers fulfillment of its obligations, as well as inside information concerning the activity of the both companies, provided by FCC Sozidatel, Ltd.
Factors supporting the credit rating's level :
- FCC Sozidatel, Ltd acts as an investor of construction of six residential houses, their owner and prime contractor being CJSC CPA Sozidatel, that takes a leading place in the accommodation construction market of Dnipropetrovsk and has large experience in realization of similar projects (about 250 thousand mІ of facilities put into operation);
- All licensing documents are available for construction of 6 residential houses to be financed through the bond issue;
- FCC Sozidatel, Ltd operates in financing construction of residential houses in Dnipropetrovsk, where accommodation prices kept growing over a few last years;
Factors restricting the credit rating's level :
- FCC Sozidatel, Ltd was registered in October 2005 and at the moment of credit rating evaluation it did not manage any economic activity;
- The Issuer has no experience in financing construction through bond issue, neither in their redemption by providing their holders with facilities;
- 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)
