print
30.10.2006
The forthcoming bond issue by the LLC «Stroysotsservice» assigned uaCCC credit rating
The independent "Credit-Rating" agency has today announced the assignment of the uaCCC long-term credit rating to the forthcoming issue of the registered passive (discount) bonds (A series) by the Kiev-based CJSC "Stroysotsservice" for the amount of UAH 90 mln. with the 8 1/2-year maturity. The construction and investment is the main company's activity. Today the CJSC "Stroysotsservice" implements the project aimed at construction of administrative and exhibition centre in the Solomenskiy district of the city of Kiev. During the analysis the "Credit-Rating" agency used Issuer's 2001-2005 and 1H 2006 financial reports, as well as other inside information furnished by the company.
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.
Factors supporting the credit rating
- The Issuer's experience in conducting works as general contractor and as contractor.
Factors constraining the credit rating
- The size of the issue planned exceeds significantly the Issuer's balance value (the size of the issue planned is UAH 90 mln, the balance value is UAH 1.19 mln.);
- Volatility in legislation and taxation on operations connected with the construction activity, and in attracting of funding.
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
