OREANDA-NEWS. RusRating has placed the rating for the ZAO Stroitemp 01 bond series on its watch list, which means that the rating or rating outlook could change (either favourably or unfavourably) in response to new information received from the Issuer or from public sources. At this time the rating is unchanged at “BBB-“ on the national scale, with a stable outlook.

The rating is based on the support of a major Russian financial-industrial group with more than R150bn in assets and its beneficiary owners plus an expected rise in the price of coking coal, with implications for the business project in which the funds were invested.

Constraining factors include the high debt burden of the ultimate borrower and difficult anticipated conditions in the metals industry.

About the Issue

The five-year, interest-bearing, documentary, non-convertible series 01 bonds (reg. no. 4-01-80031-N) have a total nominal value of R5bn and are scheduled for redemption on 13 November 2019. The coupon period is 182 days, with interest payments set at 9% per annum. The issue was organised by Troika-D Bank on behalf of a major financial-industrial group and its beneficiary owners.

The funds generated by the issue were invested in modernisation of the OEU Block No. 2 Anzherskaya-Yuzhnaya coal mine in Kemerovo region. The ultimate borrower is OOO NPO Gidrougol [trs. HydroCoal Production and Research Association LLC].

About the Issuer

ZAO Stroitemp is a private-sector Russian company set up on 10 May 2006 and affiliated with a major Russian financial-industrial group that has more than R150bn in assets. The group's business centres on finance and loans, construction and real estate. At this time ZAO Stroitemp serves in effect as an SPV. The Company’s General Director is Anton Sergeyevich Zhuravlev. It is owned by OOO Aston Grand, a limited liability company acting on behalf of the above-mentioned group, whose beneficiary owner is A.L. Motylev.