Independent rating agency Credit-Rating has announced an increase in the long-term credit rating of the leasing company ESKA Capital and the long-term credit rating of the issue of registered interest-free unsecured bonds (series A) by a total of UAH 30 million. to the level of uaA +. A stable forecast of the company’s ratings indicates that there are currently no prerequisites for changing the rating during the year.
According to the results of 2019, net cash flows from operating activities of ESKA CAPITAL, as in previous periods, were positive and show the dynamics of growth, which was provided by the receipt of revenues from operating activities. The company’s equity in relation to debt is one of the largest in the market.
Indicators of financial independence and autonomy of ESKA CAPITAL in 2019 were characterized by positive growth dynamics. EBITDA, calculated for the last 12 months, amounted to UAH 58,797.0 thousand.
It should be noted that as of December 31, 2019, the net debt of ESKA CAPITAL decreased by 19.6% due to the partial repayment of liabilities on previously borrowed resources.
“In 2019, Esca Capital fulfilled the task of increasing capital at the expense of retained earnings, providing an additional margin of safety. We understood that the almost ten-year cycle of economic growth in the world economy must end and the next crisis will not pass Ukraine. – says Anton Dyadyura, Managing Partner of ESKA Capital. -Now the efforts are aimed at maintaining high liquidity, we are ahead of schedule all our obligations to creditors and daily monitor the payment discipline of our lessees. We continue to increase our leasing portfolio and actively finance new clients. “
The agency notes that the factors that contribute to the increase of ESKA Capital ratings are:
• stable market positions of the leasing company ESKA CAPITAL as one of the leaders in the segment of financial leasing in Ukraine;
• structure of the leasing portfolio: the three segments (construction, cargo and agricultural machinery) account for about 85% of the total portfolio, which, despite the aggravation of the epidemiological situation in the country and the growing crisis in the economy, continue to operate stably, which in turn eliminates possible risks reduction of business activity and payment discipline of the main counterparties;
• balance of assets and liabilities by maturity;
• profitable operating activities in recent years
• information openness of the enterprise
As the managing partner of the leasing company ESKA Capital Sergey Vaskov notes – “Good credit reputation is very important for our company. Issuance of corporate bonds is a strategic source of funding for us. Due to the fact that we fulfill our obligations in full and on time – investors have a significant interest in our securities. Depending on the market situation and the state of the Ukrainian economy, we plan further issues. Most likely, a new issue will be held in early autumn. It is possible that by the end of 2020 we will publish two or three series of issues. “