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

IBI-Rating informs on affirming of the long-term credit rating of registered interest bearing secured bonds of A series of «LD PERSPEKTYVA» LLC at uaВВВ- grade, with a «stable» outlook.

During 9 months of 2017«LD PERSPEKTYVA» LLC generated net income in the amount of UAH 15,030 thousand from the rental of property. The property of the Issuer is a «Rus» 3-star hotel located in the centre of Kyiv city. The remaining income was mainly formed by transactions on purchase and sale of securities. Based on the results of 9 months of 2017, the Issuer generated a loss in the amount of UAH 3,803 thousand. As at 30.09.2017, its equity capital remained negative. Thereby there remained high dependence on the borrowed capital, as well as high debt burden. Thereby there remained high dependence on the borrowed capital, as well as high debt burden of the Issuer.

The Guarantor for bond issue is the «Kamaz Trans-Service» LLC the main activity of which is transportation (including international) by own motor transport, as well as repair and transport services for trucks. The «Kamaz Trans-Service» LLC, in 9 months of 2017 increased its own net income by 14,4% to UAH 189,309 thousand. The result of operations was net loss of UAH 3,905 thousand. There was an increase in its equity capital primarily through additional contributions of participants to the authorized capital amount UAH 156,479 thousand (61% in the structure of funding sources).

In order to carry out the analytical research the materials obtained from «LD PERSPEKTYVA» LLC, were used, including: financial statements of «LD PERSPEKTYVA» LLC and the Underwriter («Kamaz Trans-Service» LLC) for 2014-2016 and 9 months of 2017, background information on the activities of Issuer and the Underwriter, information on the A series bonds issue, other necessary internal information, as well as the information from the public sources, which the Rating agency considers reliable.

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