17.04.2018

Today, the independent credit rating agency "Credit-Rating" announced an increase in the long-term credit rating of the Public Joint Stock Company "Scientific Industrial Centre" Borshchahivskiy Chemical-Pharmaceutical Plant" (Kyiv) to the level uaAA+. The forecast for the rating is stable. The main activity of this company is the development, production and sales of medicines.

In order to update the credit rating, the agency used the financial statements of the Public Joint Stock Company "Scientific Industrial Centre" Borshchahivskiy Chemical-Pharmaceutical Plant" for 2017 and the inside information provided by the enterprise during the rating process.

A borrower or a separate debt instrument with a rating of uaAA is characterized with very high creditworthiness compared to other Ukrainian borrowers or debt instruments.

The stable forecast indicates the absence of prerequisites for changing the rating during the year.

The "+" sign defines an intermediate category (level) of rating towards the main categories (levels).

Factors that support the level of credit rating:

• leading positions of the company on the market: PJSC SIC "BCPP" is one of the most innovative pharmaceutical manufacturers in Ukraine and has a wide product range;
• profitable operational activity (due to the growth of production and sales in terms of products sold);
• substantial volume of investments in its own development over the last five years;
• a low level of debt;
• the significant managerial experience of the PJSC SIC "BCPP".

Factors that limit the level of credit rating:

• high level of competition on the market, volatility of the legal framework (including tax), which causes significant instability in the pharmaceutical industry;
• unstable social and economic situation in the country, which significantly limits the purchasing ability of the population of Ukraine;
• sensitivity of the activity of PJSC SIC "BCPP" to fluctuations in currency exchange rates, as well as prices for imported raw materials and equipment.