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19.06.2006
Credit-Rating upgrade rating "Autopromkhim", Ltd to uaCCC
Today independent rating agency Credit-Rating announced the upgrade of a long-term credit rating of Autopromkhim (Kyiv) from uaCC to uaCCC. First the company was assigned a credit rating 19.08.2005. The companys main activity is investment and construction and trade of materials.
Credit-Rating agency also announced the upgrade of a long-term credit rating of the registered interest-free (special purpose) bond issue (B, C series) by Autopromkhim Ltd in the total amount of UAH 30.5 million with a circulation period of 2.5 years from uaCC to uaCCC.
The following was taken into consideration when upgrading the credit rating of Autopromkhim Ltd: as of May 15, 2006 the company received all documents necessary for construction of facility in Dmytryevskaya street, 80-82, including permit for construction works, the construction of the facility has started. In the 1st quarter 2006 construction works on the facility were financed for the total amount of UAH 1 526.0 thousand.
As a result of financial and economic activity of the company in the 1st quarter 2006, the total balance increased due to bond offering, the company had negative profit. As of 31.03.2006 the total balance of Autopromkhim Ltd was UAH 41 644.2 thousand, the negative profit from operation UAH 112.4 thousand. The main sources of the companys expenses are prime cost of materials sold, expenditures on labor remuneration and social charges.
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