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20.03.2007
Credit rating assigned to bond issue by 'Darnitsa Ferroconcrete Items Plant' upgraded to uaA+
`Credit-Rating`, a nationally-recognized credit rating agency in Ukraine has today upgraded from uaA to uaA+ (uaA plus) the long term credit rating assigned to issue of registered coupon bonds (G series) by Kiev-based `Darnitsa Ferroconcrete Items Plant` OJSC (`the Issuer` or `the company`) for the amount of UAH 5m with the 3-year original maturity. The main company`s activity is producing the construction materials. In the course of the rating`s revision procedure the agency used Issuer`s financial statement for 4Q 2006, as well as other inside information furnished by the company.
The uaA issue rating reflects obligor`s strong capacity to pay the issue given. It may, though, be more vulnerable to adverse changes in economic, financial and business conditions than debt liabilities rated uaAA and uaAAA . The `+` and `-` modifiers denote rating`s relative status within major categories.
In the course of the rating`s upgrade procedure the following factors were taken into consideration - the improvement in majority of company`s indicators (sales profitability and liquidity) over 2006 and growth in sales, despite rising prices for raw materials. Moreover, high financial independence indicators and EBITDA securitization of financial liabilities were taken into account as well.
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
