Railway co BDZ Seeks to Reschedule Debt over 10 Yrs

Railway co BDZ Seeks to Reschedule Debt over 10 Yrs

Bulgarian state-owned railway holding company BDZ seeks to reschedule its debt over ten years, transport minister Danail Papazov said.
Currently, the company's debt is estimated at 655 million lev ($451.7 million/334.8 million euro), news portal Dnevnik.bg quoted Papazov as saying in parliament.
A working group will start discussing BDZ Holding's debt rescheduling plan next week, Papazov said. The company is undergoing tough reforms and is selling non-operating assets, he added.
The holding company’s net loss amounts to some 18 million levs, Papazov said without disclosing the reporting period. At the this point, BDZ can cover its current expenses but is unable to make due payments without help from the government, the minister explained.
The railway operator managed to lower its debt by 30 million levs in October alone, minister Papazov added.

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