Romanian insolvent hydropower producer Hidroelectrica said on Tuesday it posted
a five-month gross profit of 401 million lei ($125.2 million/91.5 million
euro).
The company also said in a statement it repaid fully by June 30 a
75 million euro ($102.7 million) loan to Citibank drawn in 2009. Since the
beginning of 2014 Hidroelectrica has closed loans worth a combined 231 million
lei.
Since being declared insolvent two years ago, Hidroelectrica cut its
debts by 625 million euro to 216 million euro at end-June, it
added.
State-controlled Hidroelectrica was placed back under
reorganisation procedure in February, after exiting insolvency proceedings in
June 2013. It was first declared insolvent in June 2012.