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29.03.2007
Credit rating assigned to bond issue by «Dneprovskiy Krug» upgraded to uaBB-
"Credit-Rating", a nationally-recognized credit rating agency in Ukraine has today upgraded the credit rating assigned to issue of registered housing bonds (A series) by Kiev-based "Dneprovskiy Krug" Subsidiary Company ("the Issuer" or "the company") for the amount of UAH 27.06m with the 2 Ѕ-year original maturity from uaB to uaBB- (uaBB minus). The main company`s activity is investment and construction. To revise the rating the agency used Issuer`s financial statements for 4Q2006 and for 2006 in general, as well as other inside information furnished by the company.
Issues rated uaBB are the least affected by the risk of non-payment of the principal and interest within the speculative grade. The obligor, however, may be impaired to timely and in full meet its commitments on the obligation in the Ukrainian financial market environment in the event of adverse changes in business, financial and economic conditions. However, the possibility of non-payment is low in the near future. The "+" and "-" modifiers denote rating`s relative status within major categories.
In the course of the rating`s upgrade procedure the agency took into account the fact that the company obtained a Certificate of State Approval Commission as of 28 Feb. 2007 on setting in operation residential buildings in 22A and 22B, Shkolnaya str. in the borough of Petropavlovskaya Borschagovka (Kiev Oblast) with the total floor area of 13,840.62 sq.m. The readiness of another residential building in 7, Geroiv Dnepra str. in the city of Cherkasy is currently 97%.
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
