IBI-Rating has updated 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, the rating outlook has changed from «evolving» to «stable». The changing of the rating outlook is due to the lack of significant influence on the Issuer's activities of the restrictive measures introduced by the government due to the deterioration of the epidemiological situation in Ukraine and the world.

According to the prospectus of issue, the financial resources raised from the placement of bonds will be directed to expand the assortment and increase in production, develop capacities and production facilities, work to improve the services quality, and purchase securities of Ukrainian enterprises.

The Issuer's economic activity in the analyzed period remained low. At the end of 2019, net income decreased to UAH 100 thousand. Due to a significant amount of financial expenses, UAH 214,766 thousand of net loss was received. Net income by 3 months of 2020 amounted to UAH 38 thousand only, however, due to the significant amount of other income and income from profit tax, so net profit amounted to UAH 11,268 thousand. A significant amount of uncovered loss leads to a negative value of equity, as well as 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 2017-2019 and 3 months of 2020, 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.

Corporate department
For more information please contact:
Press-service of IBI-Rating
(044) 362-90-84