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IBI-Rating has affirmed the credit rating of the bonds of «SVAROG-DNISTER» LLC
04.07.2017IBI-Rating informs on the affirmation of the long-term credit rating of interest A series bonds of «SVAROG-DNISTER» LLC at uaBBB grade with a «stable» outlook. The bonds of par value amounting to UAH 100 mln. maturing in 2023 were issued for paying for agricultural services, financing the purchase of crop protection agents, mineral fertilizers, seeds, as well as repaying of financial support.
«SVAROG-DNISTER» LLC forms a part of «Svarog West Group» one of the leading performance of crop agro-industrial corporation. The land bank amounts to 80 thousand ha, the main crops are cereals, legumes and sugar beet. During the rating process IBI-Rating agency took into account «SVAROG-DNISTER» LLC’s forming part of «Svarog West Group», however, the credit rating of the bonds was updated based on the Issuer’s creditworthiness (excluding consolidated financial indicators).
The area of arable agricultural land of «SVAROG-DNISTER» LLC in Khmelnitsky region is 6.3 thousand ha. The activities of the Issuer, like other agricultural enterprises, are seasonal and sensitive to the impact of natural and climatic conditions.
By the results of 2016, the net income of «SVAROG-DNISTER» LLC increased to UAH 199.8 mln., net profit amounted to UAH 11.1 mln. For 3 months of 2017 the net income amounted to UAH 17.5 mln. and UAH 0.2 mln. of the net profit. The final financial result was affected by an increase in financial expenses on interest bearing bonds.
In order to carry out the analytical research the materials obtained from «SVAROG-DNISTER» LLC were used, including: the annual financial statements for 2014-2017 and 3 months of 2017, parameters of the A series bond issue, other necessary internal information, as well as the information from the 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
«SVAROG-DNISTER» LLC forms a part of «Svarog West Group» one of the leading performance of crop agro-industrial corporation. The land bank amounts to 80 thousand ha, the main crops are cereals, legumes and sugar beet. During the rating process IBI-Rating agency took into account «SVAROG-DNISTER» LLC’s forming part of «Svarog West Group», however, the credit rating of the bonds was updated based on the Issuer’s creditworthiness (excluding consolidated financial indicators).
The area of arable agricultural land of «SVAROG-DNISTER» LLC in Khmelnitsky region is 6.3 thousand ha. The activities of the Issuer, like other agricultural enterprises, are seasonal and sensitive to the impact of natural and climatic conditions.
By the results of 2016, the net income of «SVAROG-DNISTER» LLC increased to UAH 199.8 mln., net profit amounted to UAH 11.1 mln. For 3 months of 2017 the net income amounted to UAH 17.5 mln. and UAH 0.2 mln. of the net profit. The final financial result was affected by an increase in financial expenses on interest bearing bonds.
In order to carry out the analytical research the materials obtained from «SVAROG-DNISTER» LLC were used, including: the annual financial statements for 2014-2017 and 3 months of 2017, parameters of the A series bond issue, other necessary internal information, as well as the information from the 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