OREANDA-NEWS. January 4, 2010. Credit-Rating, a nationally recognized credit rating agency in Ukraine announced that it upgraded to uaBBB- (uaBBB minus) from uaBB the long-term credit rating assigned to registered coupon bonds (series A) issued by Odessa-based Business-Centre Primorye LLC (‘issuer’ or ‘company’). The amount of the issue is UAH6m, due March 28, 2012. The outlook on the rating is stable. The company’s core business is leasing of owned immovable and movable manufacturing and cultural property. Today the company is funding a construction of a trade centre located in the city of Odessa. To revise the rating Credit-Rating considered issuer’s financial statements for 3Q and 9M2009 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. This is outlook by default.

Factors maintaining the credit rating

The guarantee dated Sep. 5, 2006 by IMEXBANK JSC for the bonds of series A (the bank’s debt issue is rated uaBBB-/stable outlook).

Factors constraining the credit rating

Risks associated with redistribution of funds within the group’s companies.

Poor issuer’s information transparency.