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23.03.2007
Credit rating assigned to bond issue by «Unigran» LLC upgraded from uaBB to uaBBB-
"Credit-Rating", a nationally-recognized credit rating agency in Ukraine has today upgraded from uaBB to uaBBB- (uaBBB minus) the long-term credit rating assigned to registered coupon bonds (B, C series) issued by Kiev-based "Unigran" LLC ("the Issuer" or "the company") for the amount of UAH 10m with the 3-year original maturity. The main company`s activity is selling and carrying high-quality crushed rock and granite. To revise the rating the agency used Issuer`s financial statements for 4Q06 and for 2006 overall, as well as other inside information furnished by the company.
The uaBBB issuer rating reflects obligor`s adequate capacity to timely and in full meet its commitments on the obligations in the Ukrainian financial market environment. There is, though, a higher vulnerability to the effect of adverse changes in business, financial and economic conditions as compared to obligors with higher ratings. The "+" and "-" modifiers denote rating`s relative status within major categories.
In the course of the rating`s upgrade procedure the agency took into consideration company`s growing indicators over 2006, specifically the sales profitability grew from 3.9% to 8.7%, the financial strength grew from 0.33 to 0.62, and the general liquidity grew from 0.89 to 1.94. The growth in indicators was caused by 1.6x increase in sales and UAH 17.3m net profit. Over the period under analysis the equity grew to assets adequately due to growth in undistributed profit and its reinvestment into the authorized stock.
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
