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Credit-Rating takes rating actions on Illichivske ST OJSC28.12.2010 Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it assigned a long-term credit rating of uaBBB+ (uaBBB plus) with stable outlook to Kiev-based Illichivske ST OJSC (‘company’ or ‘insurer’). Credit-Rating has also assigned to the company its insurer strength rating of uaAinz. In the course of the rating procedure Credit-Rating considered company’s financial statements for 2006-2009 and 9M2010, 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. A plus "+" and a minus "-" signs indicate intermediary categories compared to the standard categories (grades). Stable outlook indicates that there are no anticipated reasons to change the rating in the course of the year. The strength of insurance companies bearing uaAins rating is high, with their capacity, reputation and loyalty to customers being higher than those of Ukrainian companies assigned lower ratings, though they are more vulnerable to impact of adverse commercial, financial and economic factors than the companies bearing uaA+ins rating. The probability of failure to timely make insurance payments/repay cumulated insurance amounts is lower than those in insurance companies with lower ratings. Factors maintaining the credit rating
Factors constraining the credit rating
Information on all credit ratings assigned in accordance with the National Rating Scale may be found in THOMSON REUTERS and BLOOMBERG information systems. For more information, please contact: |
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