OREANDA-NEWS. October 15, 2012. Ukrainian Credit Rating Agency has assigned one of the companies of Mining Machines Group an uaAA- credit rating with a stable outlook.

Experts of one of the most authoritative credit agencies, Ukrainian Credit Rating Agency, have assessed the development of Mining Machines over the past years and assigned Druzhkovka Heavy Engineering Plant (one of the group companies) an uaAA- credit rating.

It is the first time Mining Machines has cooperated with the rating agencies and the result - the long-term investment rating - shows that this is a promising company with high credit worthiness. The specialists of the rating agency note that the plant managed to ensure stable and sustainable domestic and international demand for its products due to in-house engineering, international quality certification and a wide range of products. In particular, over the last two years export has seen a 26-fold increase to 17.8% of the holding's revenue in 2011. Mining Machines plans to gain an additional 5-fold increase in its export supplies by 2016. Overall, in 2011 the holding's revenue made USD 225m, a 31% increase year on year.

Andrey Konoplyasty, director of analytical department of Ukrainian Credit Rating Agency, noted that Mining Machines has a long-term strategy and good financial standing. "The company has a strong management in place, who have a clear understanding about the areas of the company's development." These factors played in favour of the decision to give a credit rating to one of the company's plants.

"It is high responsibility to receive and maintain the rating. It requires a clear business strategy and systemic work on information disclosure," stated Marina Graschenkova, head of the department of corporate finances, Mining Machines. "We chose the Ukrainian Credit Rating Agency deliberately. It has a reputation of a strict and fair appraiser, which gives more weight to the result we have achieved. Our company has set high goals, and uaAA- rating does not only prove that we have chosen the right path but it also serves as a good signal for national and international investors.