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13.02.2007
Credit rating assigned to bond issue by «Megapolis-DKS» LLC upgraded to uaCCC
"Credit-Rating", a nationally-recognized credit rating agency in Ukraine has today upgraded from uaCC+ (uaCC plus) to uaCCC the long-term credit rating assigned to registered housing bonds (A-C series) issued by "Megapolis-DKS" LLC for the amount of UAH 54m with the 3-year original maturity. The main company`s activity is investment and construction. To revise the rating "Credit-Rating" agency used Issuer`s financial statements for 3Q and 9M2006 as well as other inside information furnished by the company.
The uaCCC issue rating reflects a default possibility, which may be faced in the Ukrainian financial market environment. The timely and full payments on debt liabilities are substantially dependent upon favourable business, financial and economic conditions.
In the course of the company`s rating upgrade procedure the following factors
were taken into consideration: the company obtained a permission for construction of a
residential complex in
23, Grigorenka av. in the city of Kiev; moreover, the initial stage of construction was
complete as of 1 Nov.2006 ; 3Q and 9M2006 saw growth in Issuer`s asset balance and
in profit, thus, the company`s assets amounted to UAH 56.7m (as of 30 Sep. 2006) which is
0.41% more than those by end-June 2006, the company`s profit for 9M2006 amounted to UAH
61.1K
Today the company constructs 2nd floor of the trade and office complex with the underground parking already constructed.
Information on all the credit ratings assigned in accordance with the Ukrainian national scale may 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
