IBI-Rating confirmed the uaBBB-credit rating of A Series bonds by the issuer Tradeoptimum Ltd.
IBI-Rating, anindependent designated rating agency, announces the uaBBB- affirmed credit rating of A series registered interest secured bonds of the issuer Tradeoptimum Ltd. with stable rating outlook.
Affirmation of credit rating debt instrument (DIR) of Tradeoptimum Ltd. is due to persistance in the second half of 2012 of key factors that have been pointed out by the rating agency IBI-Rating, previously. Fulfillment of obligations on bonds (payment of interest income, extinguishment and redemption) are secured by the surety agreement concluded between Tradeoptimum Ltd. and JSC IMEXBANK. Also it should be noted that Odessa real estate market remains in the state of stagnation, as well as significant debt burden of the Issuer.
Positive effect on the credit rating may come from: increase in Issuer’s revenues with simultaneous improvement of efficiency indicators and decrease in debt burden. Negative effect on the credit rating may come from: decrease in the Issuer’s solvency, deteriorating economic environment in the country.
Analytical study used materials obtained from Tradeoptimum Ltd., including the company’s annual financial statements for 2012, additional information on the activities of Tradeoptimum Ltd., parameters of A Series bond and other relevant inside information, statements of JSC IMEXBANK for 6 months of 2012, as well as information from public sources, considered reliable by the rating agency.