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

IBI-Rating informs on affirming of the long-term credit rating of the registered interest-bearing unsecured A Series bonds of «Roztotske» LLC (the issue amount is UAH 430 mln., with redemption in August 2019) at uaBB+ grade with a «stable» outlook.

The activity of «Roztotske» LLC, as well as that of other domestic agricultural enterprises, is highly sensitive to the impact of natural and climatic conditions. Also, the seasonality of the Issuer's activity leading to fluctuations in its working capital, should be noted.

The net income of «Roztotske» LLC for 9 months of 2018 decreased to UAH 3 605 thousand, against UAH 50 292 thousand for the same period of the previous year. The result of the activity was a net loss in amount of UAH 7 476 thousand.

The debt of «Roztotske» LLC is formed solely by obligations on interest-bearing bonds of A Series, the volume of which as a result of partial redemption was reduced to amount UAH 20 645 thousand. Debt obligations are accounted for as part of long-term obligations, while the terms of the issue provide for the possibility of presenting bonds for early redemption.

The rating agency IBI-Rating also notes the lack of information transparency of the Issuer.

In order to conduct the analytical research the materials provided by «Roztotske» LLC have been used, including: the financial statements for 2015-2017 and 9 months of 2018, information on the issue of A 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:
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