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Stable forecast for Mining Machines

05.10.2012

Experts from one of the most competent Ukrainian rating agencies – Ukrainian Credit Rating Agency assessed the results of SIC Mining Machines development and gave uaАА- rating to one of the company's enterprise PJSC Druzhkovsky Engineering factory.

For SIC Mining Machines it is the first experience of work with rating agencies and the result - long term rating characterizes the company as prospective business with high credibility. As the specialists from the rating agency noted due to in-house engineering, international quality certificates, and wide range of products it is possible to keep stable and sustainable demand from the largest domestic and foreign companies. In particular the export volumes have increased 36 times for the past two years to 17.8 % in the holding's proceeds for 2011. Mining Machines is planning to increase the export five times before 2016. In general the holding proceeds in 2011 totaled USD225 million, 31% more compared with the previous year.

Andrei Konoplyastiy, the analytical department director of Ukrainian Credit Rating Agency, said: "SIC Mining Machines has long term business strategy and financial stability. It has strong management team that understands how to develop business". These reasons formed the basis of such investment rating for one of the company's enterprises.

"To be rated - is the important process which requires clear business strategy and systemic information disclosure, – Marina Grashchenkova, the head of SIC Mining Machines Corporate Finance Department commented. – Regarding Ukrainian Credit Rating Agency - we made a conscious choice. It has a reputation of strict and fair appraiser which makes the result more valuable. Our company has set high goals and uaАА- rating both confirms the way we have chosen for our company and gives information to domestic and foreign investors". 

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