OREANDA-NEWS. Credit-Rating, a nationally recognized credit rating agency in Ukraine, has today upgraded to uaA+ (uaA plus) from uaBB+ (uaBB plus) the long-term credit rating assigned to UAH16m 6-year issue of registered housing bonds (J series) by Kiev-based Holding Kievgorstroy-1 LLC. The company`s principal activity is investment and construction - the company constructs residential buildings in the city of Kiev. To revise the rating the agency considered Issuer`s financial statements for 2Q and 1H2007, as well as other inside information furnished by the company.

An obligor or a debt liability with uaA credit rating is characterized with the 'high 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. The plus (+) or minus (-) modifier denotes rating`s relative status within major categories.

In the course of the rating`s revision procedure Credit-Rating took into account that the Issuer is incorporated with Stolitsa Corporation, which is created by companies integrated vertically into a vigorous structure and engaged in rendering a wide range of construction and financial services. Stolitsa Corporation is among 3 largest construction companies in the city of Kiev by both the size of income and projects implemented.