PJSC “Ukrzaliznytsia” intends to 2018 to completely restructure the credit portfolio, reduce credit load and the change of the currency basket, said acting CEO of PJSC Evgeny Kravtsov.

“Today, 90% we engage in foreign currency, while foreign exchange earnings for the enterprise in General do not exceed 10% and at most 7%, this is a significant imbalance that historically in “Ukrzaliznytsya”, – he said during a press conference in Kyiv on Tuesday.

E. Kravtsov called the volume of credit portfolio of PC and noted that last year, “Ukrzaliznytsia” successfully, without any problems were able to avoid technical default.

As reported, PJSC “Ukrzaliznytsia” in 2018 has provided attraction of loans in the amount of 18.7 billion UAH, including the issue of internal bonds for UAH 2 billion and the repayment of loans in the amount of UAH 14.4 billion, based on the calculation at the rate of 29.2 grn/$1.

This follows from the explanatory notes to the draft consolidated financial plan, PJSC for the year 2018, the text of which is published on the website of the company.

According to him, as of 1 January 2018 and the balance of financial liabilities is expected in the amount of UAH 39.1 bn in the same year and by the end of 2018, the rest is planned in the amount of 44.2 billion UAH at the rate of 30.1 UAH/$. Thus the credit portfolio of PJSC in UAH for the year will increase by 13%.

“The credit policy of the company for the year 2018 provides for: the continuation of successful cooperation with international financial institutions within the capital renewal and improvement of infrastructure concessional financing; increased cooperation on other creditors from the list of MFIs; provision of an adequate level of liquidity management of the company; further fruitful cooperation with Ukrainian state-owned banks as for maintenance and implementation of the restructuring of the loan portfolio of the company, including through the mechanism of a consortium of state banks; substitution of term loans in foreign currency on revolving credit line in national currency; the solution to the problem of updating of Park of locomotives by the procurement of a new modern traction rolling stock through the mechanism of financial leasing”, – stated in the explanatory Memorandum.