site.btaDeputy PM Zaharieva, Transport Minister Angelkova Meet with Bulgarian State Railways' Creditors

Deputy PM Zaharieva,
Transport Minister Angelkova
Meet with Bulgarian State Railways' Creditors


Sofia, September 12 (BTA) - Deputy Prime Minister Ekaterina
Zaharieva, Minister of Transport, Information Technology and
Communications Nikolina Angelkova, representatives of the
Bulgarian State Railways (Holding BDZ EAD) and of the Bulgarian
Development Bank met on Friday with representatives of Holding
BDZ EAD's creditors, said the Transport Ministry in a press
release.

The creditors of the state railway company, to whom it owes some
600 million leva, stated during the meeting that the letter
sent to Minister Angelkova by the EC, in which the Commission
says that state aid for restructuring BDZ Holding EAD is
permissible, is a very important step forward in the negotiation
process.

Angelkova underscored that reaching an agreement with the
creditors is very important for the state railways'
stabilization and financial recovery .

Both sides have stated that they will actively work to finalize
a mutually acceptable agreement, which would settle the matters
between BDZ Holding EAD and its creditors and shareholders.
Experts from the Transport Ministry and the indebted company
will present next week to creditors a new version of a
preliminary agreement between the two sides, which will contain
a specific action plan, deadlines and measures. It will serve as
the basis for the next round of negotiations, which are
expected to take place in the beginning of October.