- Language: English
- Published: August 2012
Research Update: Kazakhstan-Based Pharmaceutical Company Chimpharm And Proposed Notes Assigned 'kzBB' National Scale Ratings Jul 12
- Published: July 2012
- Standard & Poors
Kazakhstan-based pharmaceuticals company Chimpharm JSC plans to issue Kazakhstani tenge (KZT) 10 billion (about $65 million) of senior unsecured notes to finance its expansion. We are assigning our 'kzBB' Kazakhstan national scale rating to Chimpharm and the proposed notes. We could raise the ratings if the company successfully places the proposed notes and achieves projected sales growth rates over subsequent quarters. On July 12, 2012, Standard & Poor's Ratings Services assigned its 'kzBB' Kazakhstan national scale rating to Kazakh generic pharmaceuticals manufacturer Chimpharm JSC. At the same time, we assigned 'kzBB' issue ratings to Chimpharm's proposed KZT10 billion unsecured notes. The recovery rating on this debt is '4', indicating our expectation of average (30%-50%) recovery for creditors in the event...
Companies mentioned in this report are: Chimpharm JSC
Action: New Rating
Action: Outlook: Positive
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
SHOW LESS READ MORE >
|Electronic||The report will be emailed to you.|