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IBI-Rating has affirmed the credit rating of K-N series bonds of «Zhilstroy-2» ALC at uaBBB grade

November 8, 2016
IBI-Rating informs on the affirmation of the credit rating of the registered housing secured bonds of J Series of «Zhilstroy-2» ALC at uaBBB grade, with a «stable» outlook.
The registered housing secured bonds of K-N series (of the nominal value of the issue amounting to UAH 190 933,8 thousands) were issued with the purpose of financing of the second stage of the residential complex "Duet"- the complex of apartment buildings with built-attached premises of cultural and community and trade and office blocks with underground parking for the building at Kharkiv city, st. Tsilynohradska (in the apartment houses № 54-56). The construction began in the 2Q 2016, readiness to 30.06.2016 p. was 10% (on 09.30.2016. - 16%). Commissioning of the object is scheduled for 3Q 2018.
«Zhilstroy-2» ALC occupies leading positions in the market of the primary real estate construction in Kharkiv. The company has its own production construction facilities, providing virtually complete construction cycle. «Zhilstroy-2» ALC has experience in implementing investment projects and construction of transmission facilities for housing bonds
Currently, IBI-Rating does not see the factors that may lead to raising of the credit rating grade of the target bonds. The reasons for downgrading of the credit rating in the future may be, as follows: late financing and significant lagging behind the construction schedule, which at the moment is not occurring.
In order to carry out the analytical research the materials provided by «Zhilstroy-2» ALC have been used, including financial statements of the Issuer for 2013-2015 and 6 months of 2016, the background information on the activities of «Zhilstroy-2» ALC, the information on the issue of K-N series bonds, other necessary internal information, as well as the information from the public sources, which the Rating agency considers credible.
  • Status
  • Country of risk
  • Redemption (put/call option)
    *** (***)
  • Amount
    146,464,500 UAH
  • М/S&P/F
    — / — / —
Company — Zhilstroy-2
  • Full name
  • Registration country
  • Industry
    Construction and development