IBI-Rating has affirmed the credit rating of discount bonds of «Grad Invest» LLC

IBI-Rating informs on the affirmation of the long term credit rating of A Series discount bonds of «Grad Invest» LLC at uaССС grade, with a «stable» outlook.

According to the prospectus of issue, the financial resources raised from the placement of bonds will be used to expand the range and increase the volume of products, develop capacities and production volumes, works to improve the quality of services, purchase securities of Ukrainian enterprises.

Economic activity of the Issuer's in the analyzed period remained low. The net income of «Grad Invest» LLC is formed mainly through the renting a property According to the results by 9 months of 2019, the Issuer's activities were unprofitable, which was mainly due to amortization of the discount on bonds and the creation of loss reserves. A significant amount of uncovered loss leads to a negative value of equity and an exclusive dependence on borrowed financing.

In order to carry out the analytical research the materials provided by «Grad Invest» LLC were used, including: financial statements for 2016 -2018 and 9 months of 2019, background information on the activities of «Grad Invest» LLC, the information on the issue of the bonds, other necessary internal information as well as the information from the public sources, which the Rating agency considers reliable.

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