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IBI-Rating has affirmed the credit rating of J series bonds of «Zhilstroy-2» ALC at uaBBB grade

08.07.2016
IBI-Rating informs on the affirmation of the credit rating of the registered housing secured bonds of J Series of «Zhilstroy-2» ALC at uaBBB grade, with a «stable» outlook.

The registered housing secured bonds of J series (of the nominal value of the issue amounting to UAH 91.69 mln.) were issued with the purpose of financing of the construction of the residential house N 1 of the complex of apartment buildings with built-in and attached cultural and community facilities, and trading and administrative facilities with an underground parking at the construction address in Tsilynograds’ka Street, Kharkiv city, (in the area of apartment houses N 54-56). The construction began in the 3Q 2014. At the end of March 2016, the construction completion degree increased to 53.5%. Commissioning of the object is scheduled for 4Q 2016.

«Zhilstroy-2» ALC occupies leading positions in the market of the primary real estate construction in Kharkiv. The company has its own production construction facilities. IBI-Rating also notes the information openness and transparency of the Issuer.

Currently, IBI-Rating does not see the factors that may lead to raising of the credit rating grade in the short term. The reasons for downgrading of the credit rating in the future may be, as follows: late financing and significant lagging behind the construction schedule (which at the moment is not occurring).

In order to carry out the analytical research the materials provided by «Zhilstroy-2» ALC have been used, including financial statements of the Issuer for 2013-2015 and 3 months of 2016, the background information on the activities of «Zhilstroy-2» ALC, the information on the issue of J series bonds, other necessary internal information, as well as the information from the public sources, which the Rating agency considers credible.

Corporate department

For more information please contact:
Press service of IBI-Rating
(044) 362-90-84
press(at)ibi.com.ua