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18.07.2006
Credit rating of OJSC "Concern Khlebprom" upgraded to uaA-
Today independent rating agency Credit-Rating announced the upgrade of the long-term credit rating to the interest-bearing registered bond issue (B, C series) by OJSC Concern Khlebprom in the amount of UAH 17 million with a circulation period of 5 years from uaBBB+ to uaA-. The companys main activity is production and trade of bread and bakery.
The following was taken into consideration for the upgrade of the credit rating to OJSC Concern Khlebprom: the increase of the companys authorized fund by 5 times to UAH 90.7 million in the first half of 2006; in 2004-2005 the consolidated net revenue grew 2.3 times to UAH 131.9 million and the net profit 9.3 times to UAH 8.9 million, in the first quarter 2006 the return on sales came up from 1.7% to 6.8% and the EBITDA profitability from 6.6% to 11.9%. Noteworthy is the increase of production output and emergence of new market outlets: in 2005 5 property portfolios of processing enterprises in Cherkassy and Vinnytsya regions and in Rivne were purchased, in the first half of 2006 the equipment at some of them was upgraded on a large scale.
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