IBI-Rating has affirmed the credit rating of bonds of «Pivdentransavto» LLC

Rating agency IBI-Rating informs on affirming of the credit rating of registered interest-bearing secured В, C, F, G, H, I series bonds of «Pivdentransavto» LLC at uaCC grade, with «stable» outlook.

The funds received from the placement of bonds, were channeled to financing of real estate development projects in Odesa city. In the period provided by the prospectus (until 08/12/2019) interest bonds were not repaid.

The economic activity of «Pivdentransavto» LLC during the period under review remained low. The activities for the last 9 months of 2019 were profitable, nevertheless the amount of uncovered loss remained significant, which led to the negative value of equity and, as a consequence, the Issuer's dependence on debt financing.

In order to conduct the analytical research the materials provided by «Pivdentransavto» LLC have been used, including: annual financial statements for 2016-2018 and 9 months of 2019, information on the issue of bonds, other necessary internal information, as well as the information from the public sources, which the Rating agency considers credible.

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