IBI-Rating has affirmed the credit rating of B series bonds of «ENERGOPOSTAVKA» LLC at uaBBB- grade

IBI-Rating informs on affirming of the credit rating of В series registered interest-bearing bonds of «ENERGOPOSTAVKA» LLC at uaВВВ- grade, with a «stable» outlook.

The affirmation of the credit rating of the debt instrument is due to the presence of the guarantor «Kirovohradoblenergo» PJSC (credit rating uaBBB), which is a natural monopoly on the transmission and supply of electricity in the territory of Kirovohrad region. At the same time, the concentration of the Issuer's investments in certain types of securities is high, exposing to high risks in the event of failure by one of the counterparties to fulfill its obligations. In addition, the Issuer operates in the financial market, which is characterized by increased sensitivity to the impact of crisis phenomena, in particular, given the current unstable political and economic situation in the country.

According to the results of the third quarters of 2017 «ENERGOPOSTAVKA» LLC worked with insignificant profit in the amount to UAH 174 thou (versus UAH 5.8 m in losses last year).

IBI-Rating currently sees no factors which may lead to upgrading of the credit rating of the Issuer’s bonds in the short term. Downgrading of the credit rating is possible in the event of deterioration of solvency (liquidity) of the Issuer or the Guarantor, increased concentration of the securities portfolio, as well as the deteriorating situation in the financial market and in the country’s economy as a whole.

In order to conduct the analytical research the materials provided by «ENERGOPOSTAVKA» LLC have been used, including: annual financial statements for 2014-2016 and 3 months of 2017, target performance indicators, 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