OREANDA-NEWS. On 08 July 2009 Credit-Rating, a nationally recognized credit rating agency in Ukraine announced that it affirmed at uaBB and placed on Rating Watch List (`RWL`) the long-term credit ratings assigned to Dnepropetrovsk-based Reardi PE (`issuer` or `company`) and its coupon bonds (series A, B) for the amount of UAH30m. The outlook on the ratings has been changed to negative. The company`s core business is management of a supermarket chain in central and southern Ukraine.

This rating action is in response to opacity regarding issuer`s capacity to meet its obligations in timely and full manner. Today the company negotiates with the bondholders on restructuring the debts on series B bonds for the amount of UAH11.6m, which have been offered for before-due redemption on Ju

The removal of the ratings from the RWL, and their further revision are contingent upon issuer`s timely and full meeting its commitments on the bond obligations, considering possible agreements with the bondholders on the framework of payments.

An obligor or a debt liability with uaBB credit rating is characterized with the LOWER THAN SUFFICIENT creditworthiness as compared to other Ukrainian obligors or debt liabilities. This level of creditworthiness is strongly affected by adverse changes in commercial, financial and economic conditions.

Negative outlook indicates that there is a possibility to downgrade the rating in the course of the year, on condition that negative tendencies are retained and current risks are realized.   

The Rating Watch List is intended to inform 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.