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

IBI-Rating informs on affirming of the long term credit rating of A-M series housing (unsecured) bonds of LLC «AVERS-GROUP» at uaBBB grade with a «stable» outlook. These securities were issued to finance the construction of a 19-storey building with built-in non-residential premises at the construction address: Dnipro city, Sobornyi district, Shevchenko street, house 51 (RC «Katerynoslavskyi I»).

Construction of a residential complex is carried out in the presence of a full package of permits in the central part of the city, which should contribute to increased demand for real estate and reduce the risks of underfunding the project. The Issuer is a member of the «ALEF» group of companies - one of the leading participants in the real estate market of the Dnipro city. The developer and the general contractor of the project have experience in implementing investment and construction projects.

According to the Issuer, at the end of December 2019, the construction readiness of the RC «Katerynoslavskyi I» in the Dnipro city, to financing of which housing A-M series bonds have been issued, was 65%. Completion of construction is scheduled for the Q2 of 2020, while the redemption period of the bonds take place on 30.12.2020-30.12.2021, which indicates the presence of a considerable time margin for redemption of securities.

In order to conduct the analytical research the materials provided by LLC «AVERS-GROUP» have been used, including: the financial statements for 2017-2019, reference information about the activities of the enterprise, parameters of the issue of bonds, expectations of the IBI-Rating Agency, other necessary internal information, as well as the information from the public sources, which the Rating agency considers credible.

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