23 May 2013 13:27
May 23, 2013
AVANGARDCO INVESTMENTS PUBLIC LIMITED
Fitch Ratings upgrades AVANGARDCO IPL ratings to 'B+' and 'AA+(ukr)'
KYIV, UKRAINE - AVANGARDCO INVESTMENTS PUBLIC LIMITED (LSE: AVGR) (the «Company» or «AVANGARDCO IPL»), the largest producer of shell eggs and egg products in Ukraine and number one producer in Eurasia, announces that the rating agency Fitch Ratings ("Fitch") has upgraded the Company's long-term local currency issuer default rating (IDR) to 'B+' and national long-term rating to 'AA+(ukr)'. Foreign currency IDR has been affirmed at 'B'. The outlook for all ratings is Stable.
The ratings upgrade follows the recent placement of total US$ 425 million Eurobond by UkrLandFarming, a parent company of AVANGARDCO IPL.
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For investor relations enquiries:
Valeriya Myagkohod AVANGARDCO IPL Investor Relations Manager
phone.: +38 044 393 40 50 mob.: +38 067 223 46 88 e-mail: ir@avangardco.ua
FTI Consulting London Larisa Millings
+44 20 72 69 71 53 |
FTI Consulting Moscow Oleg Leonov
+7 495 795 06 23 |
Information for editors
Avangardco IPL is one of the largest agro-industrial companies in Ukraine, specializing in the production of eggs and egg products. Based on figures for the year 2012, the Company holds a 33% share of the Ukrainian egg market (52% of the industrial egg market) and an 88% share of the Ukrainian egg products market. As of 31 December 2012, the total poultry stock of the Company was 27.5 million heads. The Company's plants are located in 14 regions of Ukraine and the Autonomous Republic of Crimea. In 2012 the Company exported its products to 32 countries, generally to the Middle East, Asia and CIS. As of 31 December 2012, revenues amounted to US$629.3 mln (2011: US$553.3 mln) and EBITDA was US$ 279.8 mln (2011: US$245.8 mln).
The Company's shares, in the form of Global Depositary Receipts, have been traded on the London Stock Exchange since May 2010. Eurobonds of around $200 mln with a maturity on 29 October 2015 were included in the official list of the UK Listing Authority (UKLA) and admitted to trading on a regulated market of the London Stock Exchange since November 1, 2010.