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29.05.2006
uaCC credit rating assigned to upcoming bond issue of Foundation "Yakisne Zhytlo", Ltd
Today independent rating agency Credit-Rating announced the granting of a long-term uaCC credit rating to the scheduled registered interest-free (target) bond issue (A-D series) by Foundation Yakisne Zhytlo, Ltd (Kyiv) in the amount of UAH 43.6 million with a circulation period of 2.5 years. The companys main activity is investment and construction. In the analysis process Credit-Rating agency used the complete financial reports of Foundation Foundation Yakisne Zhytlo, Ltd for the 1st quarter 2006 as well as the inside information provided by the company.
Factors supporting the credit rating's level:
- The Issuers activity is related to organization and financing of accommodation construction in Kyiv where prices on accommodation kept growing over the past five years.
Factors restricting the credit rating's level:
- The Issuer was registered in Feb. 2006 which complicates the analysis of quality of development dynamics and indicates the lack of experience in construction and sales of residential facilities, or in public fundraising for construction;
- Contract relations between the Issuer and construction client are not coordinated;
- 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)
