OREANDA-NEWS  On 09 December was announced, that "TMM Company extended its short-term debts till November 2009 and is expecting a rating update from Fitch Ratings", says Larysa Chyvurina, CFO, during an interview to "Delo".

According to Ms Chyvurina, as of the date Fitch Ratings requested information two short-term debts were to be repaid on November, 30, 2008. On 28 November 2008 TMM Company got its short-term debts extended till November 2009 but this information was not reflected in the rating. "We already submitted the documents necessary for the update to Fitch. As long as we took this step deliberately in order to follow the path of publicity Fitch are to be the first to receive the news about every event which takes place in our company. In or turn we are expecting their further decisions".

As informed earlier in the Company's press-release, Fitch Ratings has assigned TMM long-term foreign and local currency ratings [Issuer Default (IDRs) is the formal name of the ratings] of 'CC', a National Long-term rating of 'B(ukr)', and has simultaneously placed both ratings on Rating Watch Negative (RWN). Rating's assignment was initiated by TMM considering the further Company's plans to attract financing for the prospective real estate projects. At that in November, 2008 TMM has extended the maturities of short-term debt till November, 2009. At present TMM is negotiating with international banks for the external debt facilities attracting.