Metinvest, Ukraine’s largest private mining and steel group, has refused to rule out writing off part of its debt which is to be restructured, Group CEO Yuri Ryzhenkov said.
“In addition to usual rollover, it is possible that we will discuss the possibility of writing off part of the group’s debt with the creditors. The basis for developing the specific terms of debt restructuring will be forecasts regarding the development of the market of iron ore and steel. According to the leading industry analysis agencies, the situation in the market will remain difficult over the next year and the first signs of recovery are possible no earlier than in 2017,” he said. (http://www.ukrainianjournal.com/index.php?w=article&id=21336/Ukrainian metal)
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