Dniproenergo Pays Off Its Entire Debt to Creditors

Yesterday the financial recovery manager of power generation company Dniproenergo (DNEN: HOLD) Dmytro Tevelev announced the company has fully settled its remaining USD 184 mln in debt to creditors. All the debt was settled in cash, which Dniproenergo received from DTEK-affiliated coal mines in the process of Dniproenergo restructuring, as approved at the company’s AGM in August 2007. This paves the way for Dniproenergo to officially finish its financial recovery. We believe that in spite of lawsuits against Dniproenergo’s restructuring initiated by Southern GZK, the process has a slim chance of being reversed.