print
26.06.2006
uaBB- credit rating assigned to upcoming bond issue of PC "Poliexpo", Ltd
Today independent rating agency Credit-Rating announced the granting of a long-term uaBB- credit rating to the scheduled registered interest-free (special-purpose) bond issue (A series) by PC Poliexpo ( Kherson) in the amount of UAH 12.24 million with a circulation period of 1 year. The companys main activity is purchase and wholesale trade of agricultural products. PC Poliexpo is currently reconstructing the unfinished construction in Kherson. In the analysis process Credit-Rating agency used the Issuers complete financial reports for 2001-2005, as well as other inside information provided by the company.
Factors supporting the credit rating's level:
- The Issuer is the client of reconstruction project of residential house in the central part of Kherson, the building is 70% complete;
- Growing demand for apartments and commercial facilities in new buildings in Kherson, and a tendency to rise the cost of new apartments, which are the subject of interest-free (special-purpose) bonds issued by the company.
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 facilities;
- Undetermined and unstable system of legal regulation and taxation of operations with construction and in particular with fund-raising.
For more detailed information, please contact us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
