Ukraine's financial crises might also affect its prominent missile and satellite manifacturer Yuzhmash, the Ukrainian weekly Kiev Post reports in its latest issue, quoting Interfax.
Like Ukravtodor Yuzhmash is seen facing "debt-servicing challenges in 2009", says Oleksandr Shlapak, the first deputy of President Viktor Yushchenko's office."The most serious problem will be with servicing corporate liabilities guaranteed by the state in 2009. The point at issue is, as you know, Ukravtodor. We've managed to settle part of the problem: Credit Suisse signed an agreement on re-lending half of the sum of the credit - $960 million. Talks are still under way with Morgan Stanley.
A similarly difficult situation will occur with Yuzhmash, whose payments fall due in February. As far as I know, Yuzhmash has no revenues to pay off its debt. It means the payments should come from the budget," he told reporters on Monday (Jan 26, 2009).
Like Ukravtodor Yuzhmash is seen facing "debt-servicing challenges in 2009", says Oleksandr Shlapak, the first deputy of President Viktor Yushchenko's office."The most serious problem will be with servicing corporate liabilities guaranteed by the state in 2009. The point at issue is, as you know, Ukravtodor. We've managed to settle part of the problem: Credit Suisse signed an agreement on re-lending half of the sum of the credit - $960 million. Talks are still under way with Morgan Stanley.
A similarly difficult situation will occur with Yuzhmash, whose payments fall due in February. As far as I know, Yuzhmash has no revenues to pay off its debt. It means the payments should come from the budget," he told reporters on Monday (Jan 26, 2009).
A third candidate for trouble is NJSC NaftoGaz Ukrainy."It has liabilities worth UAH 26 billion – these are foreign and domestic loans… I'm sure Naftogaz has no extra resources today to settle these debts. Most likely, the point at issue will be refinancing," he said.
In this connection, Shlapak said that this year the budget is facing difficulties even with the payment of wages and pensions, and this is when it's nearly impossible to raise funds on the foreign market.
