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Credit-Rating Rates Concern Khlebprom OJSC at uaBBB

Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it assigned a long-term credit rating of uaBBB to Lviv-based Concern Khlebprom OJSC (‘company’). The outlook on the rating is stable. The company’s principal activity is production and sale of preserved products. In the course of analysis Credit-Rating considered company’s financial statements for 2005-2009 and 1Q2010 and its other inside information.

An obligor or a debt liability with uaBBB credit rating is characterized with the SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is affected by adverse changes in commercial, financial and economic conditions.

Stable outlook indicates that there are no anticipated reasons to change the rating in the course of the year.

Factors maintaining the credit rating

  • Company’s strong standing in bakery segment.
  • Company’s vertical integration.
  • Diversification of company’s production facilities represented by 15 baking plants and 3 mills located in five Ukraine’s oblasts.

Factors constraining the credit rating

  • Company’s debt burden and high specific gravity of foreign currencies in loans.
  • High portion of standardized products, the prices for which are subject to state regulation.

Information on all credit ratings assigned in accordance with the National Rating Scale may be found in REUTERS and BLOOMBERG information systems.

For more information, please contact:
Information and analytic department
Sergey Rozumyak +38044490 25 50 
Denis Rudenko

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