print
25.05.2006
uaBBB- credit rating assigned to upcoming bond issue of OJSC Svetalany Kovalskoy Reinforced Concrete Plant
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, B series) by OJSC Svetalany Kovalskoy Reinforced Concrete Plant (Kyiv) in the amount of UAH 124.35 million with a circulation period of 2.5 years. The plants main activity trends are: production of reinforced concrete structures, custom concrete of different quality classes, and also investment and construction activity.
Factors supporting the credit rating's level:
- The Issuer produces building materials, the share of its products in Kyiv market of custom concrete is about 40%; the Issuer has experience in general contractor works;
- Increase of the sales net volume by 3.7 times to UAH 458.4 million during 2001-2005; net revenue by 2.2 times to UAH 20.2 million;
- Guaranty on the bond issue by guaranty agreement with CJSC Svetlany Kovalevskoy Reinforced Concrete Plant.
Factors restricting the credit rating's level:
- Lack of experience in registered interest-free (target) bond issue and bond redemption by providing their holders with residential and commercial facilities;
- The project to be financed through bond issue is at the beginning stage;
- Undetermined and unstable system of legal regulation and taxation of operations with construction and in particular fundraising.
For more detailed information, please contact us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
