Russia will help the Crimea with further payments on bonded debt

Russia will help the Crimea with further payments on bonded debt

The deputy finance minister of the Russian Federation Alexey Moiseyev has told the journalists that Russia will help the Crimea to meet its obligations and that the next payment on the funded loan will be made in July of the current year.

According to him, delay with the spring payment, because of which the rating of the Crimea was decreased, was of technical character. «We were not able to quickly switch to new procedures. We had technical adjustment, we’ll now make it out and surely pay,» Kriminform quotes Moiseyev.

«Since the Crimea is the entity of the Russian Federation, we consider that we look after its investment image the same way we do for any other entity of the Russian Federation,» added the deputy minister. He had difficulty specifying the source of payment of the funds. «But it’s obvious that the scheme is the same as would have been with any other region,» he noted.

The international rating agency Standard & Poor’s has earlier lowered the long-term credit rating of the issuer «Crimea» from «CCC» default level «D» because it on March 21 it missed the coupon payment of 4.8 million hryvnas on the bonds, issued for 133 million hryvnas.

«Considering the missed payment, we regard the Crimean government as currently unable to meet its debt obligations,» notes the rating agency.

Дмитрий Майдан


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