IBI-Rating announces long-term credit rating of target bonds by LLC Crimea-Kyivbud A series at uaB-, outlook "stable"
Confirmation of credit rating of debt instrument (RDI) of LLC Crimea-Kyivbud is due to persisting in II quarter 2013 key factors reported by the agency earlier. Demand for residential property in Sevastopol remains stable. In late 2012 the 1st building of residential complex "Morskyi Bryz" was put into operation. Due to high competition in this segment of housing the sales of apartments in the 1st building of RC "Morskyi Bryz" remains low, which in turn has a significant impact on the credit rating. It is also necessary to mention the Issuer's unstable financial position and dependence of funding on borrowings.
Factors maintaining the credit rating: reduced industrial risks and improved macroeconomic situation in the country.Factors constraining the credit rating: increased reliance on creditors, deteriorated overall economic situation in the country and the region.
Analytical study of creditworthiness useddata from LLC Crimea-Kyivbud, includingfinancial statements for II quarter 2013 and information on the issue of A series bonds, other necessary internal information and information from open sources the agency deems reliable.