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-Agrofirma Troyanda gets higher mark for UAH340m bond from Credit Rating.

BANKING AND CREDIT NEWS-August 12, 2011--Agrofirma Troyanda gets higher mark for UAH340m bond from Credit Rating(C)2011 M2 COMMUNICATIONS http://www.m2.com

12 August 2011 - Credit Rating upgraded today to uaBB from ua?+ the long-term rating on the UAH340.2m (USD42.5m/EUR30m) I-M series bonds of Ukrainian construction and investment company Agrofirma Troyanda.

The outlook is "stable."

An obligor or a debt liability with uaBB credit rating is characterised with lower than sufficient creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is strongly affected by adverse changes in commercial, financial and economic conditions.

The "stable" outlook indicates that there are no anticipated reasons to change the rating in the course of the year.

The rating is underpinned by the launch of the first stage of a residential complex in Kiev and the company's experience in bond redemption.

It also factors in the sufficient experience in construction of local developer KAN Development holding, which incorporates the project's general contractor KAN Stroy.

These positives, however, are tempered by the current negative trends in Ukraine's real estate sector and the unstable legislation and tax environment for the industry.

((Comments on this story may be sent to info@m2.com)).END.PUB430>PDAugust 12, 2011>JNBANKING AND CREDIT NEWS.PRICEDATENOT APPLICABLE.DAY

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Publication:M2 Banking & Credit News (BCN)
Date:Aug 12, 2011
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