The ratings company Fitch Ratings said in the statement that an interest-free loan from the Bulgarian state to National Electric Company (NEK) for the NPP Belene arbitration payment is mildly positive for the rating of Bulgarian Energy Holding (BEH), which NEK is a subsidiary of.
Last week, The Bulgarian Parliament has approved a draft bill on granting financial for the payment of the debt of the National Electric Company (NEK). The non-refundable financial aid from the state budged will be used in order to repay the company’s debt under the arbitration ruling on NPP Belene project. However, the aid will be granted only after the approval by the European Commission. The exact amount and maturity of the loan are yet to be determined, but previously Bulgarian Minister of Energy Temenuzhka Petkova said that the first payment to Russian Atomstroyexport will be about 400 million euros and it will be done by the end of the year.
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Tags: arbitration, ASE, BEH, Belene, Bulgaria, debt, Fitch, NEK, NPP, rating, state aid