Russian Railways ruled in default after West derails payment ...News

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Russian Railways ruled in default after West derails payment
source : Russia Today ( News ) () 33
The company missed a bond payment after being denied access to its foreign bank accounts State-owned company Russian Railways has been ruled in default after failing to pay a bond coupon due on March 14. An attempted payment to shareholders was blocked last week by Western financial institutions. The International Swaps and Derivatives Association (ISDA) announced on Monday that “a Failure to Pay Credit Event occurred in respect of [Russian Railways],” which effectively puts the company in default over the payment. The company tried to pay the bond coupon, but the payment did not reach investors by the end of a 10

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