Latvenergo borrows 90 million lats in the short term. Euro – Post World

In January of this year JSC”Latvenergo“has concluded two short-term credit agreements (overdraft agreements) for working capital and liquidity management

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The contracts were signed with the Latvian branch of OP Corporate Bank plc in the amount of 60 million. Euro and with AS “SEB Bank” in the amount of 30 million euros. Both contracts have a term of up to two years.

A procurement was organized for the conclusion of short-term loan agreements, and the winners were the Latvian branch of OP Corporate Bank plc and AS SEB banka.

Latvenergo AS raises capital on a scheduled and regular basis and provides timely financing for both capital investment and liquidity management. rating agency »Moody’sLatvenergo AS has been assigned an investment grade rating of Baa2 with a stable outlook, indicating the group’s stability and financial solidity.

Latvenergo Group is one of the largest energy traders in the Baltics engaged in production and sale of electricity and heat, sale of natural gas and provision of power distribution services.

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