RZD's debt burden comfortable, might be increased - Belousov
MOSCOW. Nov 8 (Interfax) - OJSC Russian Railways' debt burden in the near future will hold at a comfortable level for the near future and can be boosted without negative consequences for the company's financial stability, Economic Development Minister Andrei Belousov said at a government meeting, commenting on the RZD president Vladimir Yakunin's announcement about the exhaustion of credit resources for financing the company's investment program (this was reviewed by the Cabinet of Ministers on Thursday).
"It [the debt burden] is quite high. In 2013, it will come to around 2 [debt to EBITDA ratio] but, firstly, it will be at this level until 2015. Secondly, a 2 level is very attractive in terms of investment and borrowing," he said.
"We have a large number of companies, which operate with [ratios] of 2, 2.5 or 2.7. The critical level [coefficient] is around 3.Therefore, we believe that the options for additional financing for the investment program through raising loans have not been exhausted," Belousov said.
In addition, resources such as infrastructure bonds still have not been tapped, the minister said.