Ahbor-Reyting assigns rating of securities’ issuer to Baliqchi OJSC

The uzB++ rating reflects adequate ability of the enterprise, issued of securities, to execute its liabilities in time and fully. But, the enterprises with uzB++ rating have higher sensitivity to impact to changes to commercial, financial and economic terms, compared to companies with the uzA rating.

The assigned rating takes into account high liquidity and capitalization of the enterprises, annual stable improvement of its main financial figures. The rating also takes into account dynamic growth of assets and respectively low level of profitability of the enterprise in last two years.

In future, according to Ahbor-Reyting, the financial results will improve stably, but it also depends on ability of management to manage its assets.

Baliqchi was founded in Quyichirchiq district of Tashkent region on 11 December 1995 and it specializing in breeding fish and its realization. Currently, the enterprise breeds several types of fish.

In the reporting period, the quality and structure of assets of Baliqchi is rated as at acceptable level. The material-technical base of Baliqchi is also rated at acceptable level and it is growing each year.

Currently, the company has 3,035 hectares of land, of which 77.43% of them fell to share of ponds, 6.95% - channels and collectors and 3% - roads, 1.12 – social buildings and areas, 0.66% - gardens and others. Fixed assets of Baliqchi grew by 39.58% to 4.95 billion soums, which makes u 49.54% of total assets.

Ahbor-Reyting notes that coefficient of current liquidity of Baliqchi was high. High-liquid assets of Balichqi such as money resources rose seven times to 34.95% of total assets (7.48% in 2010).

At the moment, the formed equity capital of the company makes up 650 million soums. The reserve capital reached 1.4 billion soums, which makes up 16.19% of own capital. Main part of fixed capital was formed due to undistributed income. Undistributed income rose 51.46% to 6.7 billion soums. Total volume of own capital of Baliqchi increased y 34.79% to 8.8 billion soums. The financial independence figures are rated as favourable. The capital base adequacy made up 60.81% in 2011.