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IBI-Rating has affirmed the credit rating of А-D series bonds of ТОВ «Triumph Invest» LLC

10.05.2016
Rating agency IBI-Rating informs on the affirmation of the long-term credit rating of coupon bonds of «Triumph Invest» LLC of A-D series at uaCC grade with a «stable» outlook. Bonds with a total nominal value of UAH 575, 700 thousand maturing in October 2017 were issued to raise funds for construction of social and cultural, and sports and recreational objects.

During 2015 «Triumph Invest» LLC received no income from its economic activities. Its expenses were mainly formed by the accrued discount on bonds. By results of 2015 the Issuer’s net loss amounted to UAH 55, 114 thousand, which increased the amount of uncovered loss to UAH 457, 132 thousand and resulted in the reduced size of assets by 0.8% - down to UAH 284, 354 thousand. During 2015 the debt of «Triumph Invest» LLC grew by 9,5% up to UAH 635, 736 thousand, including obligations by the placed bonds of А-D series amounting to UAH 465, 736 thousand, by the issued bills amounting to UAH 170, 000 thousand.

The growth of debt was due to amortization of discount on the bonds. In addition, the Issuer’s liquidity decreased as a result of the reclassification of the issued bills from long-term liabilities to current liabilities. IBI-Rating currently sees no factors that may lead to upgrading of the credit rating of the bonds in the short term. A negative impact on the credit rating grade may have as follows: debt default, bankruptcy.

In order to carry out the analytical research the materials obtained from «Triumph Invest» LLC were used, including: financial statements for 2013-2015, parameters of the issue of A-D series bonds, 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