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22.06.2006
uaCCC+ credit rating assigned to upcoming bond issue of Brokerage firm "BASTMA", Ltd
Today independent rating agency Credit-Rating announced the granting of a long-term uaCCC+ credit rating to the scheduled registered interest-free (special-purpose) bond issue (A-C series) by SE Brokerage Firm Bastma Ltd (Odesa) in the amount of UAH 34.8 million with a circulation period of 5 years. The companys main activity is construction. SE Brokerage Firm Bastma Ltd is currently managing the construction of three residential buildings in Odesa.
Factors supporting the credit rating's level:
- Growing demand for residential and commercial facilities in new buildings in Odessa over a few past years, and a current tendency to increase their cost;
- Positive experience in contractor construction works.
Factors restricting the credit rating's level:
- Lack of experience in realization of construction projects of residential houses and bond redemption by providing bond holders with residential and commercial facilities;
- The bond issue is to finance the construction of three residential buildings, two of which are at the beginning construction stage, the third is at the stage of coordinating and approving of design documents;
- 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)
