IBI-Rating announces reaffirmed credit rating of registered interest-bearing A series bonds of the issuer LLC Sophora at uaB with "stable" outlook
Confirmation of the credit rating of debt instrument (RDI) of LLC Sophor is owing to preservation in the first half of 2013 of key factors IBI-Rating stated before. In the first half of 2013 financial and economic activities of the Issuer improved (net profit for 6 months 2013 amounted to 26.6 mln UAH), but the amount of operating revenues is insufficient to service the debt. Dependence of of LLC Sophor's activities on the borrowed capital remains exclusive. Another factor to be noted is stabilization of the real estate market in Odessa, where the Issuer’s activities are centered.
Factors maintaining the credit rating: improved results of financial and economic activities of the Issuer, increased financial stability alongside reduced dependence on borrowed capital, reduced debt burden. Factors constraining the credit rating: debt default, deteriorated financial situation and further increase of debt burden, deterioration of the general economic situation in the country.
Analytical study used data from LLC Sophor, including financial statements for six months of 2013, series A Bond issue information, other necessary inside information, as well as information from open sources deemed reliable by the rating agency.
