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20.09.2006
uaCCC credit rating assigned to upcoming bond issue of Atlanta Invest & Development, 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-C series) by Atlanta Invest and Development Ltd (Kyiv) in the amount of UAH 85.5 million with a circulation period of 3.5 years. The companys main activity is construction investment. Atlanta Invest and Development Ltd is currently managing construction project of residential house in Kyiv.
Factors supporting the credit rating's level:
- considerable volume of Issuers authorized fund - UAH 50 million, 100% formed by cash assets;
- Issuer is involved in the activity related to financing of construction of accommodation and commercial facilities in Kyiv, where the prices kept growing in the recent years.
Factors restricting the credit rating's level:
- lack of experience in realization of construction investment projects and bond redemption by providing bondholders with facilities;
- construction of the facility to be financed with funds raised from the bond offering is at the stage of receiving licensing documents;
- undetermined and unstable system of legal regulation and taxation of operations with construction and in particular fund-raising.
For more detailed information, please contact us.
Kyiv (+38044 490 25 50, fax +38044 490 25 54)
