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IBI-Rating has affirmed the credit rating of series B-I bonds of “Pivden’transavto” at uaCC grade

12.10.2015
IBI-Rating informs on the affirmation of credit rating assigned to registered secured coupon bonds of B-I series of "Pivden’transavto" LLCat uaCC grade, with a "stable" outlook. The affirmed credit rating of a debt instrument of "Pivden’transavto" LLC reflects the preservation of the key factors that were previously observed by the Rating agency.

Thus, the real estate market in Odessa, where the funds from the bond issue were forwarded for the implementation of projects, is characterized by high sensitivity to the economic situation in the country. In addition, a low level of economic activity and minimum amount of the Issuer's equity cause the exclusive dependence of "Pivden’transavto" LLC on external sources of funding, as well as its high debt burden.

A positive impact on the credit rating grade may have the following: improved financial results of the Issuer given the simultaneous growth of the efficiency of operations; reduced dependence on the borrowed capital. A negative impact on the credit rating grade may have the following: failure to meet its debt obligations; deterioration of the political and economic situation in the country.

In order to carry out the analytical research the materials provided by "Pivden’transavto" LLC were used, including the financial statements for 2012-2014 and 6 months of 2015, the information about the issue of bonds of B-I series, 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