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01.06.2006
uaB credit rating assigned to upcoming bond issue of "Forum-Investbud", Ltd
Today independent rating agency Credit-Rating announced the granting of a long-term uaB credit rating to the scheduled registered interest-free (target) bond issue by Forum-Investbud, Ltd (Zaporizhya) of A series in the amount of UAH 14.3 million with a circulation period till 03.01.2007 and B series in the amount of UAH 12.6 million with a circulation period till 01.01.2008. The companys main activity is investment and construction.
Factors supporting the credit rating's level:
- The construction project to be financed through the bond offering is 52% complete;
- Growing demand for apartments and commercial facilities in new buildings in Zaporizhya, tendency to increase prices on apartments which are subject of target bonds of the Issuer.
Factors restricting the credit rating's level:
- The Issuer was registered Jun. 2005 which complicates the quality assessment of the companys development dynamics;
- Lack of experience in bond redemption by providing their holders with facilities;
- Undetermined and unstable system of legal regulation and taxation of operations with construction and in particular fund-raising.
For more detailed information, please contact us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
