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18.08.2006
uaCCC- credit rating assigned to upcoming bond issue of Vinnitsagorstroy Ltd
Today independent rating agency Credit-Rating announced the granting of a long-term uaCCC- credit rating to the scheduled registered interest-free (discount) bond issue (A series) by Vinnitsagorstroy Ltd in the amount of UAH 50 million with a circulation period of 10 years. The company’s main activity is real estate construction. Vinnitsagorstroy Ltd is currently constructing a residential house in Vinnytsya.
Factors supporting the credit rating’s level:
- The Issuer is involved in the activity related to financing of accommodation and commercial construction in Vinnytsya where the prices kept growing over the past 5 years;
- the Issuer owns land plots for construction in Vinnytsya with total area of 0.92 hectares.
Factors restricting the credit rating’s level:
- lack of experience in development and sales of accommodation and commercial facilities;
- losses of the Issuer’s financial and economic activity over the period under study were UAH 1 724.7 thousand;
- 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)
