OREANDA-NEWS. On 29 July 2008 Credit-Rating, a nationally recognized credit rating agency in Ukraine, placed a speculative grade rating of uaBB assigned to UAH20m 7-year registered interest-bearing bonds (A series) issued by Kherson-based Ukrskloprom CJSC (`Issuer` or `Company`) on Rating Watch List (RWL) with Developing outlook.

The Issuer`s rating has been placed on RWL due to the reorganization as a result of which all fixed assets, non-current assets and part of current assets were transferred to Industrial Glass Company OJSC in exchange for the corporate rights of the last one.

Further actions with the credit rating of the Issuer`s debt instrument depend on the decision regarding the perspectives of company`s further operation to be made at the Stockholders` Meeting in September 2008.

Today the Issuer`s A series bond issue for the amount of UAH20m has not been placed. Offering term is till April 15, 2009.

The Rating Watch List is intended for informing the financial market participants about possible changes of ratings in short-term prospective. The rating placed on RWL denotes that Credit-Rating is currently considering its change as a result of events or ongoing trends, which may negatively affect creditworthiness of a rating`s bearer.

A Developing outlook indicates that there is a high possibility for a rating to be changed in the course of the year.