site.btaBDZ Completes Repayment of Lv 40 Mln Debt to EUROFIMA

Sofia, July 11 (BTA) - By remitting 13.650 million leva, Bulgarian State Railways (BDZ) has completed the repayment of its 40 million leva debt to the European Company for the Financing of Railroad Rolling Stock (EUROFIMA), the rail operator said in a press release.

The loan was contracted for the purchase of retrofitted rolling stock at the end of 2008.

Several days ago, 5.497 million leva of the same obligation were repaid. The remittance of 19.147 million leva in aggregate within a single week became possible thanks to the reforms carried out to rehabilitate and develop the company in recent years, the press release adds.

At the end of 2009, BDZ was in dire financial straits, owing 849 million leva. Reforms have improved the company's financial stability and structure, bringing the total amount of its debt down to 393 million leva at present.