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23.08.2006
uaB- credit rating assigned to upcoming bond issue of Financial Company Ukrstroyinvest Ltd
Today independent rating agency Credit-Rating announced the granting of a long-term uaB- credit rating to the scheduled interest-bearing bond issue (A series) by Financial Company Ukrstroyinvest Ltd (Ternopil reg.) in the amount of UAH 5 million with a circulation period of 3 years. The company’s main activity is construction investment.
Factors supporting the credit rating’s level:
- The Issuer is a member of the company group specializing in contractor and general contractor works; this year the company group plans to set 3 residential houses into operation;
- the volume of the scheduled bond issue (UAH 5.0 million) is commensurate with the Issuer’s authorized fund as of 31.05.2006.
Factors restricting the credit rating’s level:
- over the period of its existence the issuer received no return from its main activity;
- heavy dependence of Financial Company Ukrstroyinvest Ltd on borrowed funds: the company’s total liabilities/assets ratio was 82% as of the end of March, 2006;
- Interest payment on bonds depends on timely lease of construction equipment that the Issuer intends to buy using funds raised from the bond offering.
For more detailed information, please contact us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
