7 July 2010
JSC VTB Bank has been recognized the winner of the open auction to provide RUB 2 bln unsecured loan to Mosvodokanal Moscow State Unitary Enterprise for a 2-year period. As a result of the auction, master agreement has been signed. Under the agreement, VTB will open a nonrevolving framework facility to the customer .
, member of VTB Management Board said: “The financing is aimed at purchasing, reconstructing and repairing the company’s basic assets. Cooperation between VTB and Mosvodokanal has been successfully developing since 2008. We are striving to work fruitfully under the facility agreement and expecting to have mutually advantageous partnership in future.”
Mosvodokanal Moscow State Unitary Enterprise is the largest Russian utility company providing water supply and disposal services to Moscow and Moscow vicinity. The enterprise utilizes the Europe’s largest city water supply system with total pipeline length over 11 thousand kilometers. Mosvodokanal demonstrates positive and stable dynamics of major financial and operational indicators. The credit rating of Standart&Poor`s is “ВВВ-/А-3/ruААА”, stable outlook.
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