IBI-Rating has affirmed the credit rating of interest-bearing bonds of LLC «NFC» at uaBBB– grade

Rating agency IBI-Rating informs on affirming of credit rating of interest-bearing bonds of LLC «NFC» at uaBBB– grade, with «in development» outlook.

LLC «NFC» is a financial company and has been operating since 2002. As of the beginning of October 2018, the share of each of the participants did not exceed 10% of the capital. The ultimate beneficial owner (controller) of the company is the director of LLC «NFC» Kadkalenko Andriy Sergiyovych. The main clients of LLC «NFC» are legal entities-residents of Ukraine, which have a need for current financing and replenishment of working capital. Activity of the issuer on the results by January-September of 2018 was profitable - net profit for the specified period amounted to UAH 4.5 million.

The decision on the private placement of bonds by LLC «NFC» A series bonds was adopted by the General Meeting of the Participants of LLC «NFC» (according to the protocol dated 26.10.2017). The purpose of using financial resources from the sale of bonds were to provide funds to lend and invest in liquid securities of enterprises of the electricity and metallurgical industries, the hotel industry, and also enterprises providing financial services. Participants in private placement of bonds are 41 legal entities (residents of Ukraine).

The affirmed credit rating of the bond is due to the sufficient level of debt coverage for the bonds placed by equity, as well as the expected increase in the scale of business, which will contribute to the positive dynamics of financial results. Also, the Rating agency notes that the activities of the issuer, as a financial company, are characterized by increased vulnerability to the impact of crisis phenomena, particular in the current unstable political and economic situation in the country.

In order to conduct the analytical research the materials provided by LLC «NFC» have been used, including: annual financial statements for 2015-2017 and 9 months of 2018, other necessary internal information, as well as the information from the public sources, which the Rating agency considers credible.

Finance department
For more information please contact:
Press service of IBI-Rating
(044) 362-90-84