Credit-Rating confirms the rating of Odesa at uaАА-, determines investment attractiveness at uaINV5 (the highest level) Credit-Rating confirms the rating of Odesa at uaАА-

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Development of the construction sector in 1H2008: growing appetite but decreasing ratings
In January-June 2008 Credit-Rating assigned 58 credit ratings to bond issues in the construction sector for the total amount of UAH 10.2 billion that exceeds the total amount of bond issues in the construction sector over 1H2007 in two times. According to Credit-Rating the reliability of new issues is a little higher compared to issues made over 1H2007...
Decrease in limitations on external loan attraction by municipal authorities of Ukraine will not lead to significant increase of their external debt
Credit-Rating considers that possible increase in the number of cities, which can get a right to attract external borrowings in a case of adoption of the alterations to the Budget of Ukraine, will not negatively affect the dynamics of external debt of the municipal authorities in mid-term...
Credit-Rating: Systemic crisis not to threaten national economy, yet key figures tumble
Credit-Rating believes that plunge in some key figures, specifically eroded liquidity of the banking system and decreased development rates of some regions do not display the beginning of a deep systemic crisis in Ukraine. The mentioned factors have not so far become systemic and irreversible...
Credit-Rating: New law on mandatory health insurance may negatively affect development of wide-spread networks of private clinics
Credit-Rating notes that creation of wide-spread networks of private clinics by insurance companies may be suspended had the bill `On mandatory state social health insurance` (registered under #1040) be passed in the present edition. The parliamentary Committee on Social Policy and Labour have considered and suggested to approval as a base for the Law of Ukraine `On Mandatory State Social Health Insurance` registered at 2007-end...
Credit-Rating: Lending to utility enterprises will weigh on local budgets
Credit-Rating believes that the rising volume of loans granted to utility enterprises for renovation of the infrastructure in 2008, with city councils acting as sureties to these loans, may lead to significant increases in consolidated debts of municipalities, which may prospectively hamper their capacity to repay the direct debt obligations...
Credit-Rating: State`s regulation of retail markups not to affect development of Ukraine`s retail chains
Credit-Rating believes that the memorandum on markup restriction signed by the Ukraine`s Government and top-managers of the national leading retail chains will not have a significant impact on volumes and cash inflows of Ukraine`s biggest retailers. Pursuant to the document the highest markup for principal foodstuff items shall be 10% (with 20-50% earlier)...
Credit-Rating: Liberalization in electricity market may boost ratings of energy-distributing companies
Recent years have seen many Ukraine`s energy-supplying companies (oblenergos) to have improved their performance indicators, which help them get high ratings. In fact, Credit-Rating assigned mainly investment-grade ratings in 4Q08 to debt instruments issued by 4 oblenergos...
Credit-Rating: Struggle against inflation will raise hryvnya`s price and lead to slowdown in lending
Credit-Rating believes that limitation on money stock imposed by the government and the National Bank of Ukraine aiming at restraining the inflation growth may lead to rise in value of resources in hryvnya and banks` restrained lending activity. The government`s and regulator`s efforts aimed at removing of excess in money stock (which gained 52 percent in 2007) entailed sharp rise in refinancing rate, which constrained banks` capacity for attracting of cheap resources from the interbank market...
Credit-Rating: Ukraine`s entering WTO will not affect major cognac producers
Credit-Rating believes that rise in excise duties and decrease of import duties on cognac and brandy accordingly to the WTO requirements will not have a significant impact on Ukraine`s major cognac producers. According to the WTO requirements the excise duty on cognac and brandy must be equal to those on spirit products, which will rise to UAH21...
Credit-Rating: Ukraine`s insurance sector to add one third in 2008
In Credit-Rating`s view, the overall volume of insurance premiums is to grow by a. 30 percent and will not exceed the nominal GDP growth rates. The sector`s development indicators in 2008 will generally correlate with those of 2007. The insurers are expected to collect UAH20-22...
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