Defaults on corporate loan market possible this year

The first defaults on the Russian market of corporate loans might occur in 2003-2004, in the event the situation on the market worsens, Zenit bank Vice President Anastasia Shamina voiced her opinion at a conference devoted to the loan market. According to her, such factors as the loyal attitude of investors towards a lack of credit ratings of issuers, a lack of default history, the unstable macroeconomic situation, the growing volume of loans of Russian enterprises and their dependence on the conjuncture of the debt market could increase the risks of defaults.