OREANDA-NEWS. March 22, 2010. JSC SITRONICS (SITRONICS or the “Group”) (LSE: SITR), a leading provider of telecommunications, information technology and microelectronic solutions in Russia and the CIS, with a growing presence in other EEMEA emerging markets,todayannounced that it has signed a RUB 4 billion credit agreement with Bank of Moscow, one of the top 5 banks in Russia. The agreement's initial term runs to 29 October 2010 with the option of extending it to 31 March 2013. This credit was secured through joint guarantees from JSC SITRONICS Telecom Solutions and SITRONICS IT LLC.

The funds will be used to refinance short-term debt, including the buyback of SITRONICS bonds during the upcoming put on 25 March 2010.

Marina Zabolotneva, Chief Financial Officer and Vice President for Finance and Investments of JSC SITRONICS, says: “We are following our strategy of replacing short-term loans with long-term. Bank of Moscow is a reliable partner and thanks to our cooperation we can efficiently manage our credit portfolio.”