UC RUSAL Might Default on Debts

UrBC, Moscow, April 10, 2018. United Company RUSAL might default on certain debts after getting sanctioned by the United States, Prime refers to the company’s announcement on Hong Kong Exchange as stating.

‘The Company assesses that the OFAC Sanctions may result in technical defaults in relation to certain credit obligations of the Group, and the Company is currently evaluating the impact (if any) of such technical defaults on the financial position of the Group. The Company is currently in compliance with its credit and financial obligations (including repayment obligations) in all other respects. The Company intends to continue to fulfill its existing commitments in accordance with applicable legal and regulatory requirements,’ the announcement says.

It is also stated that ‘the Company’s initial assessment is that it is highly likely that the impact may be materially adverse to the business and prospects of the Group.’

Other materials on the topic::