Print
IBI-Rating has affirmed the credit rating of series A bonds of "Concern" Simex-Agro " LLC at uaBBB grade
19.10.2015IBI-Rating informs on affirming of the long-term credit rating of series A interest bearing bonds of the issuer "Concern "Simex-Agro" LLC at uaBBB grade with a change in outlook from"stable" to "positive".
"Concern" Simex-Agro" LLC is engaged in growing grain and oilseed crops on the agricultural land of the total area of 12.5 thousand ha in Lipovetsky district of Vinnytsia oblast’. The Issuer's activity, as well as other domestic agricultural enterprises, is highly sensitive to the impact of such factors as natural and climate conditions and government regulation of the industry. "Concern" Simex-Agro" LLC has high performance indicators, based on the results of 6 months of 2015, its net revenue of "Concern" Simex-Agro " LLC increased by 85.5% up to UAH 141.7 million as compared with the same period of the previous year, its net income amounted to UAH 100.8 million, whereby the amount of retained earnings increased up to UAH 202.6 million as at 30.06.2015. At the end of June 2015, the debt of "Concern" Simex-Agro " LLC was formed by the obligations from the placed interest-bearing bonds, whose volume dropped down to UAH 84.8 million as a result of the repurchase of a part of the bonds from the bondholders. At the end of June 2015, debt liabilities of "Concern" Simex-Agro " LLC were long-term and UAH denominated, reducing the Issuer’s vulnerability to foreign currency risk in the event of further devaluation of the hryvnia. Profitable activities of "Concern" Simex-Agro " LLC by the results of 6 months of 2015 led to growth in the amount of retained earnings and, consequently, the amount of the Issuer's equity capital, which at the end of June 2015 accounted for 63% of its liabilities, indicating a good level of its financial independence.
A positive impact on the credit rating of bonds may have the following: the growth of financial results along with the improved performance indicators and maintaining an acceptable level of debt burden. A negative impact on the credit rating of bonds may have the following: failure to meet its debt obligations, reduced financial results and decline in performance indicators, the growth of debt burden, deterioration of the political and economic situation in the country.
In order to carry out the analytical research the materials obtained from "Concern" Simex-Agro " LLC were used, including financial statements for 2012-2014 and 6 months of 2015, parameters of the series A bond issue, other necessary internal information as well as the information from public sources, which the rating agency considers reliable.
Corporate department
For more information please contact:
Press service of IBI-Rating
(044) 362-90-84
press(at)ibi.com.ua
"Concern" Simex-Agro" LLC is engaged in growing grain and oilseed crops on the agricultural land of the total area of 12.5 thousand ha in Lipovetsky district of Vinnytsia oblast’. The Issuer's activity, as well as other domestic agricultural enterprises, is highly sensitive to the impact of such factors as natural and climate conditions and government regulation of the industry. "Concern" Simex-Agro" LLC has high performance indicators, based on the results of 6 months of 2015, its net revenue of "Concern" Simex-Agro " LLC increased by 85.5% up to UAH 141.7 million as compared with the same period of the previous year, its net income amounted to UAH 100.8 million, whereby the amount of retained earnings increased up to UAH 202.6 million as at 30.06.2015. At the end of June 2015, the debt of "Concern" Simex-Agro " LLC was formed by the obligations from the placed interest-bearing bonds, whose volume dropped down to UAH 84.8 million as a result of the repurchase of a part of the bonds from the bondholders. At the end of June 2015, debt liabilities of "Concern" Simex-Agro " LLC were long-term and UAH denominated, reducing the Issuer’s vulnerability to foreign currency risk in the event of further devaluation of the hryvnia. Profitable activities of "Concern" Simex-Agro " LLC by the results of 6 months of 2015 led to growth in the amount of retained earnings and, consequently, the amount of the Issuer's equity capital, which at the end of June 2015 accounted for 63% of its liabilities, indicating a good level of its financial independence.
A positive impact on the credit rating of bonds may have the following: the growth of financial results along with the improved performance indicators and maintaining an acceptable level of debt burden. A negative impact on the credit rating of bonds may have the following: failure to meet its debt obligations, reduced financial results and decline in performance indicators, the growth of debt burden, deterioration of the political and economic situation in the country.
In order to carry out the analytical research the materials obtained from "Concern" Simex-Agro " LLC were used, including financial statements for 2012-2014 and 6 months of 2015, parameters of the series A bond issue, other necessary internal information as well as the information from public sources, which the rating agency considers reliable.
Corporate department
For more information please contact:
Press service of IBI-Rating
(044) 362-90-84
press(at)ibi.com.ua