Sberbank's Gref: no concerns over Rusal's debt
MOSCOW. Nov 14 (Interfax) - Sberbank of Russia is not worried that UC Rusal will be unable to service its debt to the bank.
"For Rusal, we have a very well-secured debt," Sberbank CEO German Gref said at a presentation of the bank's new strategy, answering a question from an investor.
"The main part of the debt is secured with shares in a huge company [Norilsk Nickel ]. Its debt to us is very strongly over-secured," Gref said.
The question concerned high levels of debt at two Russian companies: Rusal and Mechel .
"The key indicator for us is the behavior of management. If they are not conducting themselves appropriately, then we will take active steps, transfer management to ourselves, etc. For now that is not the kind of situation I see for Mechel, not to mention Rusal," he said.