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02.06.2006
uaB credit rating assigned to upcoming bond issue of "Plastopolimer", 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 (A-G series) by Scientific Production Enterprise Plastopolimer, Ltd (Simferopil district) in the amount of UAH 80 million with a circulation period of 2 years. The companys main activity is production of articles and semiproducts out of fluoropolimers, besides SPE Plastopolimer, Ltd manages cargo transportation, repair and service maintenance of transport, construction investment activity and lease of real estate. The company is currently managing construction project of residential complex Darsan-palas in Yalta.
Factors supporting the credit rating's level:
- The construction project to be financed through the bond offering is 40% complete;
- Diversification of the Issuers activity: 90% of revenues are formed by receipts from production and sale of fluorine plastic and fluoropolymer articles, the net revenue in 2005 was UAH 0.95 million.
Factors restricting the credit rating's level:
- The Issuer has no experience in realization of construction projects and bond redemption by providing their holders with facilities;
- The Issuers authorized fund is UAH 0.5 million, which is 3.1% of total balance;
- 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)
