The rating of Odesa confirms at uaАА- Credit-Rating confirms the rating of Odesa at uaАА- Credit-Rating confirms the rating of Odesa at uaАА-

Main »  Events »  Press releases

Press releases

31.07.2006

uaA- credit rating assigned to upcoming bond issue of OJSC "Concern Khlebprom", Ltd

Today independent rating agency Credit-Rating announced the granting of a long-term uaA- credit rating to the registered interest-bearing bond issue (D series) by OJSC Concern Khlebprom (Lviv) in the amount of UAH 50 million with a circulation period of 5 years. The companys main activity is production and trade of bread and bakery products.

Factors supporting the credit rating's level:

  • the Issuer is a controlling company of enterprise group comprising 11 companies producing and trading bakery products mainly in Lviv and Vinnytsya regions (25% and 60% of sales in these regions markets respectively, 4.7% - in Ukraine);
  • expansion of market outlets due to the growth of the companys production capacities in 5 regions: in 2003-2005 the number of bakery plants grew from 3 to 14;
  • during 2004-2005 the Issuers consolidated net revenue grew 2.3 times to UAH 134.9 million, the net profit 8.5 times to UAH 8.1 million, and also including the 1st quarter 2006, the assets grew 3.1 times to UAH 190.9 million and the owned capital 3 times to UAH 66.4 million.

Factors restricting the credit rating's level:

  • impact of administrative methods of regulation of bakery market which might limit the profitability of this business;
  • the Issuers activity is susceptible to changes in the grain market situation which in its turn is affected by state policy in agricultural and industrial complex and dependent on natural climatic conditions.

For more detailed information, please contact us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)

Rating search

Form

advanced search