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30.10.2006
The credit rating of bonds issued by the LLC «Financial Leasing Group» upgraded to uaCCC
The independent "Credit-Rating" agency has today announced the upgrade from uaCC to uaCCC in long-term credit rating assigned to the registered passive (discount) bonds (A series) issued by the Kiev-based LLC "Financial Leasing Group" for the amount of UAH 50 mln. with the 4-year maturity. The main company's activity is providing services in financial and operating leasing of vehicles, of farming machinery, of common hardware and high-tech equipment. During the rating revision procedure the agency used Issuer's 2Q 2006 financial reports, as well as other inside information furnished by the company, including the information obtained during the consultations between the "Credit-Rating" agency's experts with the authorized representatives of the LLC "Financial Leasing Group".
The uaCCC issue rating reflects a DEFAULT POSSIBILITY on the present commitment in the Ukrainian financial market environment. The timely and full payments of commitments are substantially dependant on favourable business, financial and economic conditions.
During the upgrade procedure of the LLC "Financial Leasing Group" credit rating the following factors were taken into account: the growth in Issuer's main indices of activity during 2006, in fact the company's assets as compared to 1 Jul. 2005 grew from UAH 57.6 thousand to UAH 87.84 mln.; the capital increased from UAH 53.5 thousand to UAH 6.5 mln.: the revenues gained by the company in 1H 2006 accounted for UAH 115.19 mln. or 94% from the total income of 2005.
Information on all the credit ratings assigned in accordance with the Ukrainian national scale can be found in the REUTERS and BLOOMBERG information systems.
For further information, please contact:
Information and analytic department
Sergey Rozumyak +38 044 490 25 50
SRozumyak@credit-rating.com.ua
