Credit Rating Upgrades Galychyna’s Bonds to uaBBB
Upon completion of a comprehensive business analysis, the Ukrainian national credit rating agency Credit Rating, has upgraded Galychyna’s debt obligations – bond issue (series A and B) – to uaBBB/stable.
The bonds have been placed by ARTA Investments Partners through selling 30,000 three-year floating bonds (series A and B) of UAH 1,000 face value with a 16% coupon payable on a quarterly basis.
CJSC Galychyna ranks among top ten dairy producers in Ukraine. Having doubled production facilities in 2007, Galychyna achieved better financial performance and reported UAH 270 million in net sales - showing a 68% rise over 2006. Galychyna also reported a 2.4 times increase in its net income (UAH 9.1 million) since the beginning of the year.
In 2007, Galychyna increased its sales by 29% in terms of quantity and by 68% in terms of value. The company has established a broad procurement system covering 7 regions mainly in western and central Ukraine to provide high-quality raw materials for dairy production.
Galychyna dairy production and distribution facilities are located at the Radehiv Dairy Factory. Galychyna sells premium products through its own brands: Galychyna, Molochar, Dve Korovki, and Chabany. An exclusive distributor of Galychyna products - Galmoltorg Ltd. - manages the company’s sales network throughout Ukraine.
NOTE:
ARTA Investment Group includes ARTA Investment Partners Ltd., ARTA Securities Ltd., and ARTA Assets Management Ltd. Since 2002, ARTA provides a full range of investment banking services including brokerage, corporate finance and asset management. ARTA has attracted approx USD 1.5 billion of investments to the local market.