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28.07.2006
uaCCC+ credit rating assigned to upcoming bond issue of "Kharkovzhylyo", 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 series) by Kharkovzhylyo Ltd (Kharkiv) in the amount of UAH 5.5 million with a circulation period of 2 years. The companys main activity is investment and construction. Kharkovzhylyo Ltd is currently managing construction project of residential house in Kharkiv.
Factors supporting the credit rating's level:
- All licensing documents available for construction of the residential house to be financed through the bond offering;
- Kharkovzhylyo Ltd is affiliated company of CJSC Flas that has experience in general contractor works at all construction stages of the Issuer;
- the Issuer is involved in construction of accommodation and commercial facilities in Kharkiv where the prices kept growing over the past 5 years.
Factors restricting the credit rating's level:
- lack of experience in setting residential houses into operation and bond redemption by providing bond holders with facilities;
- construction of residential house is at the zero stage;
- 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)
