Skoda Plzen needs to raise its CZK 2.4 bil. registered capital in 2000 by CZK 4 bil. and will do this through debt/equity swaps, according to CFO Tomas Krsek. The main creditors are Konsolidacni banka and IPB. Separately, Krsek said that Skoda has potential off-balance-sheet liabilities of another CZK 12 bil., but he said these pose little risk if Skoda’s subsidiaries are restructured. Skoda Plzen has not announced any preliminary 1999 results yet. We maintain our reduce rating for the stock.
(Ladislav Kovář)