According to the latest report from Euro Insol, judicial administrator of Romanian insolvent electricity producer Hidroelectrica, the company has paid all its short-term debts and have started to make profit from the interest.
At the end of March, Hidroelectrica has paid in full its short-term financial debt, which amounted to over 180 million euros at the moment when the company entered insolvency in June 2012. During the insolvency period, the significant reduction of financial debt paired with the increase of company’s own funds led to the fact that annual loss of 25.4 million euros has turned into an annual profit of some 0.9 million euros. Currently, Hidroelectrica gets interest on deposits of more than 1.7 % per month.
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Tags: debt, electricity, Euro Insol, Hidroelectrica, insolvency, Romania