OREANDA-NEWS  On 05 December was announced, that Credit-Rating`s published list of rating actions in November 2008.

November saw 3 ratings assigned by Credit-Rating, 11 ratings have been downgraded, outlooks on 28 ratings have been revised, 3 ratings have been suspended, 12 ratings have been withdrawn and 1 rating has been placed on Rating Watch List.

ISSUER RATINGS

Municipal sector

November 5 City of Sevastopol: a long-term speculative grade rating of uaBB+ has been assigned to the city.

Corporate sector

November 12 VESTA-Dnepr CJSC (Dnepropetrovsk): a long-term investment grade rating has been assigned to the company.

November 14 Zaporizhvognetryv OJSC (Zaporizhzhia): a long-term investment grade rating of uaBBB has been assigned to the company.

November 18 Korchuvatsky Complex for Building Materials OJSC (Kiev): a long-term speculative grade rating of uaB has been assigned to the company.

November 21 Drogobych Rock Bit Works OJSC (Lviv Oblast): a long-term credit rating has been downgraded to uaBBB- from uaBBB, with the outlook being negative.

ISSUE RATINGS

Corporate sector

November 4 Astarta-7 LLC (Dnepropetrovsk): a long-term speculative grade rating of uaB (provisional) has been assigned to upcoming issue of registered housing bonds (series A-R) for the amount of UAH63.6m with 4-year original maturity.

November 6 Meest-Express LLC (Lviv): the long-term credit rating assigned to issue of registered coupon bonds (series A) for the amount of UAH25m with 3-year original maturity has been downgraded to uaB from uaBB+ with the rating outlook changed to stable.

November 10 Crimea Electro-Technical Works Saturn OJSC (Sevastopol): a long-term investment grade rating of uaB has been assigned to upcoming issue of registered discount bonds (series A-D) for the amount of UAH200m due Oct. 31, 2017.

November 11 Eifel LLC (Dnepropetrovsk): a long-term speculative grade rating of uaB- has been assigned to upcoming issue of registered housing bonds (series A-C) for the amount of UAH65.6m due Mar. 31, 2011.

November 12 VESTA-Dnepr CJSC (Dnepropetrovsk): a long-term investment grade rating of uaBBB- has been assigned to upcoming issue of registered coupon bonds (series A-C) for the amount of UAH150m due Feb. 25, 2012.

November 14 Zaporizhvognetryv OJSC (Zaporizhzhia): a long-term investment grade rating of uaBBB has been assigned to upcoming issue of registered coupon bonds (series A-C) for the amount of UAH100m due Jul.8, 2014.

November 17 Dixon LLC (Dnepropetrovsk): a long-term speculative grade rating of uaB- has been assigned to upcoming issue of registered housing bonds (series A-C) for the amount of UAH88.1m due Dec. 31, 2012.

November 21 Drogobych Rock Bit Works (Lviv Oblast): a long-term credit rating assigned to issues of registered coupon bonds (series A and B) for the total amount of UAH50m with 3-year original maturity has been downgraded to uaBBB- from uaBBB. The outlook on the rating is negative.

November 24 Construction Ltd. LLC (Mykolayiv): a long-term speculative grade rating of uaB+ has been assigned to upcoming issue of registered housing bonds (series L-N) for the amount of UAH79.8m due Jul. 31, 2011.

November 24 Kyivmedpreparat OJSC (Kiev): a long-term credit rating assigned to issue of registered coupon bonds (series A) for the amount of UAH30m due Nov.15, 2010 has been downgraded to uaBB from uaBBB remaining in Rating Watch List. The outlook on the rating is negative.

November 28 Intostroy Industrial and Construction Group (Odessa): a long-term credit rating assigned to issue of registered interest bearing bonds (series A-C) for the amount of UAH70.5m due Oct.10, 2013 has been downgraded to uaB from uaBB. The outlook on the rating is negative.

Credit-Rating agency has operated in the Ukrainian market since 2001 being committed to assignment of the national scale ratings. The agency has assigned 952 ratings, specifically to 732 Ukrainian companies, 163 financial institutions and 56 municipalities and their debts, and 1 corporate governance rating.

As of Nov. 1, 2008 Credit-Rating maintains monitoring of 786 ratings, in fact 596 of corporate, 142 of financial and 48 of municipal sectors.