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11.08.2006
uaCCC+ credit rating assigned to upcoming bond issue of PCF Asol
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-E series) by Private company – firm Asol (Odesa) in the amount of UAH 13.9 million with a circulation period of 3 years. The company’s main activity is construction investment. PCF Asol is currently managing construction of houses in Odesa and Odesa region.
Factors supporting the credit rating’s level:
- Recently growing demand for accommodation and commercial facilities in new buildings in Odesa, and the current tendency to raise their cost;
- almost all basic documents available for the construction of the residential house to be financed through the bond offering;
- experience in general contactor works.
Factors restricting the credit rating’s level:
- lack of experience in managing construction projects of residential houses as a client, or in bond redemption by providing holders with residential and commercial facilities;
- as of 12.07.2006 the construction of the residential house to be financed through the bond offering is at the beginning stage;
- undetermined and unstable system of legal regulation and taxation of operations with construction and in particular fundraising.
For more detailed information, please contact us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
