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SOFIA (Bulgaria), May 19 (SeeNews) - Standard&Poor's decision to affirm its corporate credit ratings on troubled Croatian retailer Agrokor and to withdraw them is the most popular story published by SeeNews this week.
Next comes the signing by China and Serbia of agreements for infrastructure works worth a combined 2.5 billion euro ($2.7 billion), and Macedonia's president Gjorge Ivanov mandating SDSM leader Zoran Zaev to form a government.
Following are these and more of our top stories:
S&P WITHDRAWS AGROKOR RATINGS
S&P Global Ratings said on Wednesday it has affirmed its corporate credit ratings on Croatian retailer Agrokor at SD/--/SD and has decided to withdraw them because the rating engagement was not renewed.
S&P said it also affirmed its 'D' issue rating on Agrokor's three series of senior unsecured notes, but added the ratings have been withdrawn because it has chosen not to continue ratings surveillance on an unsolicited basis.
"At the time of the withdrawal, our ratings reflected that Agrokor was in selective default because it missed a coupon payment on its senior notes on May 1, 2017," the ratings agency said. Read more at: https://seenews.com/#34
SERBIA SIGNS 2.5 BLN EURO ROAD INFRASTRUCTURE DEALS IN CHINA
Serbian infrastructure ministry said it has signed in Beijing two memoranda of understanding (MoU) with China Road and Bridge Corporation (CRBC) for infrastructure works with a combined value of 2.5 billion euro ($2.7 billion).
The contracts are for the construction of the Preljina-Pozega and Pozega-Boljare stretches of a motorway which will connect Belgrade to the border with Montenegro, and Fruskogorski Corridor, a 123 km-long road in Serbia's Vojvodina autonomous province that will link pan-European transport corridors X and IV, the infrastructure ministry said in a statement on Sunday. More at http://bit.ly/2pCaD1R
MACEDONIA'S PRESIDENT MANDATES SDSM LEADER TO FORM GOVT
Macedonia's new government will be formed within the next ten days, SDSM leader Zoran Zaev said on Wednesday after president Gjorge Ivanov gave him the mandate.
"This day is a new beginning for Macedonia," Macedonia's future prime minister, Zoran Zaev, said after being handed the mandate. "We start to build a society with equal chances for everyone," Zaev said according to a video file posted on the website of local TV channel Alsat M.
The country has been without elected government since 2015, when the coalition cabinet led by nationalist VMRO-DPMNE party resigned amid a wiretapping scandal. https://seenews.com/#9
CEZ GROUP OPENS TALKS WITH SELECTED INVESTORS ON BULGARIAN ASSETS SALE
Czech power utility CEZ Group said on Wednesday it has started negotiations with selected investors on the sale of its assets in Bulgaria.
"Following the assessment of investor interest in Bulgarian assets of CEZ, a. s., CEZ Group decided to enter into negotiations with several chosen entities that placed the best offers," the group said in a statement without elaborating.
CEZ Group assets in Bulgaria includes CEZ Distribution Bulgaria AD, the public supplier of electricity and a licensed trader CEZ Electro Bulgaria, licensed electricity trader CEZ Trade Bulgaria and Varna thermal power plant. The operations of those companies are managed and coordinated by CEZ Bulgaria EAD. http://bit.ly/2rqKbFw
On Thursday local media reported that CEZ Group has shortlisted four candidates. http://bit.ly/2qz15nb
ARCELORMITTAL THREATENS BOSNIA WITH INTERNATIONAL ARBITRATION
Lakshmi Mittal, CEO of steel maker ArcelorMittal, has warned state leaders of Bosnia he will seek international arbitration if the Serb Republic entity sells its majority stake in mining company RZR Ljubija to Israeli Investment Group. http://bit.ly/2qFcmAK
On Wednesday the parliament of Bosnia's Serb Republic voted against the deal. http://bit.ly/2pZynIs