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Credit-Rating Upgrades South Railways’ Bonds to uaA10.11.2010 Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it upgraded to uaA from uaBBB the long-term credit rating assigned to registered 2-year coupon bonds (series B) issued by Kharkiv-based South Railways (‘issuer’) for the amount of UAH100m. The outlook on the rating has been changed to positive. The issuer’s principal activity is transportation of cargo and passengers by railways. In the course of analysis Credit-Rating considered issuer’s financial statements for 1H2010 and its other inside information. An obligor or a debt liability with uaA credit rating is characterized with the HIGHLY STRONG creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is susceptible to adverse changes in commercial, financial and economic conditions. A positive outlook indicates a possibility to upgrade the rating in the course of the year, on the condition that positive tendencies are maintained and that current risks are mitigated. Factors maintaining the credit rating
Factors constraining the credit rating
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