OREANDA-NEWS. September 25, 2009. It is projected that if plans on refinancing are fully implemented, all limits of the debt position on 31.12.2009 will be executed, and the IDGC of North-West's solvency rating will be A.

Such forecasts of dynamics of the IDGC of North-West's credit portfolio up to the end of 2009 were voiced by Olga Makarova, Deputy General Director for Economy and Finance, speaking at the Company's Board of Directors meeting with the report “Procedure of calculation of the limit of loan cost parameters for the 4th quarter of 2009”.

According to the company's top manager, it is predicted that from 01.04.08 to 31.12.09, the share of credits for financing the IDGC of North-West's investment activity will decrease from 32.9% up to 15%; accordingly, the share in the credit portfolio for financing the current operations will increase from 67.1% to 85%.

As a result of refinancing the loan debts in the 3rd - 4th quarters of 2009, the Company can improve limits of the debt position. It is predicted that if plans on refinancing are fully implemented, all limits of the debt position on 31.12.2009 will be executed, and the IDGC of North-West's solvency rating will be A.

The members of the IDGC of North-West's Board of Directors made a decision to approve the procedure of calculation of the limit of loan cost parameters for the 4th quarter of 2009 and determined that the amount of loan cost parameters includes interest payments, all the commissions, consulting and other charges on attraction and/or organization of financing.

In the photo: IDGC of North-West Deputy General Director Olga Makarova.

Besides having considered the issue “Attraction of credit resources with an excess of the Company's limit of loan cost parameters in the 4th quarter of 2009”, the IDGC of North-West's Board of Directors made a decision and coordinated attraction in the 4th quarter of 2009 credit resources for the purpose of refinancing loan debts under the borrowed funds involved earlier for operational purposes, with an excess of the Limit of Loan Cost Parameters in the planned volume up to RUR 700 million at the rate of no more than 15.3% per annum for 20 - 36 months.