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21.06.2006
uaB credit rating assigned to upcoming bond issue of "Dneprovskiy Krug", Ltd
Today independent rating agency Credit-Rating announced the granting of a long-term uaB credit rating to the scheduled registered interest-free (special-purpose) bond issue (A series) by SE Dneprovskiy Krug (Kyiv) in the amount of UAH 27.06 million with a circulation period of 2.5 years. The companys main activity is investment and construction.
Factors supporting the credit rating's level:
- funds raised from bond offering are to be used for the construction of residential complex which is 30% complete as of 26.05.2006;
- the Issuer manages the activity related to accommodation construction in the suburbs of Kyiv, where the prices kept growing over the past five years;
- six years pf positive experience in general contractor works.
Factors restricting the credit rating's level:
- lack of experience in realization of construction projects of residential houses and bond redemption by providing their holders with facilities;
- the companys total obligations as of 31.03.2006 were 99.5% of the assets amount;
- 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)
