The non-reimbursable financing will be granted via the European operational program “Increase of Economic Competitiveness,” the power company said in a statement.
Transelectrica has 58.69% of its shares in the hands of the state, through the Economy Ministry.
Wednesday, Moody’s Investors Service cut Transelectrica’s credit ratings to Ba1 from Baa3 and placed the company under review for further downgrade, saying it expects the romanian government will be less supportive of the company in case of extraordinary events.
In turn, Transelectrica said its financials are solid and that it has sufficient funds to repay maturing debt.
On the Bucharest bourse Thursday, Transelectrica closed down 1.42% at RON12.5 a share, amid a declining market. (EUR1=RON4.4796)