Экономика 2016-08-08T05:19:30+03:00
Українські новини
Ukrzaliznytsia Declares Technical Default

Ukrzaliznytsia Declares Technical Default

“Today we have notified the creditors about the fact of onset of technical default on separate Ukrzaliznytsia debt obligations,” said Blank.

Ukrzaliznytsia, the state rail transport administration, declares technical default and intention to start the negotiation process on restructuring UAH 32 billion debt, Ukrzaliznytsia acting director-general Maksym Blank has announced at a news briefing.

“Today we have notified the creditors about the fact of onset of technical default on separate Ukrzaliznytsia debt obligations,” said Blank.

He notes that Ukrzaliznytsia has already started the negotiation process on the internal debt.

“Approximately 35% of the debt is our debt to Russian Federation banks,” stressed Blank.

He underlines that the initial restructuring conditions are not disclosed because they are a commercial secret.

As to Blank, Ukrzaliznytsia’s total debt stands at UAH 37.5 billion, UAH 32 billion will be restructured (of this UAH 22 billion internal debt).

The five billion hryvnias not to be restructured are Ukrzaliznytsia’s debts to the EuropeanBankforReconstructionandDevelopment (EBRD) and the Korea Eximbank.

Blank also remarks that most of the debts emerged between 2010 and 2013.

It is planned that the greater part of the debt restructuringnegotiations will be completed within the next two months.

As Ukrainian News earlier reported, Ukrzaliznytsia says the Antimonopoly Committee of Ukraine demands Ukrzaliznychpostach, a state-run enterprise for material and technical maintenance of railway transport, to give up on using the formula of calculation of the cost of diesel fuel.

To subscribe to our English newswire, please contact Ukrainian News Agency marketing and sales department by phone +38 (044) 494-31-61 or e-mail user@ukranews.com.

Больше новостей о: News in English
По теме


Архив
Новости

ok