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Azerenerji plans to receive AZN 2.7 bn during next three years

10 June 2015 13:48 (UTC +04:00)

Baku – APA-Economics. Fitch assumes that the share of state guaranteed debt will remain fairly stable over 2015-2018 and we do not expect any significant changes in the legal links with the state in the foreseeable future, as there are no plans at present to privatise Azerenerji.

“In addition Azerenerji had interest-free loan from the Ministry of Finance that accounted for another 4.8% of total outstanding debt excluding accrued interest at end-2014. The state also continued to provide equity injections of AZN910m over 2009-2014 to partially fund its investment programme (around 48% of total capex over this period). The company expects to receive AZN357m by end-2015 and another AZN2.3bn over 2016-2018, covering around 68% of the investment needs”, the Agency said.