Greece's dominant power utility, the state-run Public Power Corp. (PPC), on Friday referred to a "vote of confidence by creditors towards the ATHEX-listed company in announcing two loan agreements to refinance syndicated loans worth 1.3 billion euros.
The one-time power monopoly in the country has faced an increased liquidity strain over the recent period, exacerbated by rising arrears accumulated from residential and business customers.
"With this refinancing, PPC achieves a significant extension of its loan obligations and reinforces capitalization structure," the press release read.
