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25.05.2006
uaB+ credit rating assigned to upcoming bond issue of "ARS-DOM", Ltd
Today independent rating agency Credit-Rating announced the granting of a long-term uaB+ credit rating to the scheduled registered interest-free (discount) bond issue (A series) by Ars-Dom, Ltd (Ivano-Frankivsk) in the amount of UAH 25 million with a circulation period of 10 years. The companys main activity is investment and construction. In the analysis process Credit-Rating agency used the complete financial reports of Ars-Dom, Ltd for 2001-2005 as well as inside information provided by the company.
Factors supporting the credit rating's level:
- Funds raised from the interest-free (discount) bond offering are to be invested to replenish the working assets in particular to finance the construction of 4 residential houses, three of which are more than 75% complete;
- Positive experience in general contractor works.
Factors restricting the credit rating's level:
- Lack of experience in realization of construction projects;
- The Issuer has been managing construction investment activity for three years only, which makes it harder to forecast its development till the bond redemption date (2016);
- 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)
