Alpine: Enormous Credit Default Rate

Politics ♦ Published: July 8, 2013; 22:25 ♦ (Vindobona)

The rate for Alpine creditors declines day by day while the rate of the Trade Unions is immense. Almost all employees of Alpine were looking for help and advice.

Alpine: Enormous Credit Default Rate / Picture: © Alpine Logo Press Photo

Alpine Holding took out loans and signed bonds in the amount of € 290m. The creditors can consider themselves lucky if they are returned three percent. It is significantly less than the formerly promised rate of 20 percent. Since the first meeting of creditors it became evident that the amount of liabilities had to be corrected upward and the value of assets downward at the same…