Renault S.A. – Annual report – 31 December 2016
NOTE 23 – FINANCIAL LIABILITIES AND SALES FINANCING DEBTS (extract)
D – Financial liabilities of the AVTOVAZ segment (extract)
As at December 31, 2016, AVTOVAZ Group received waivers for loan agreements in the amount of €282 million in relation to breached loan covenants including €124 million of long-term debt. However, a grace period of these waivers is less than twelve months after the reporting period. Therefore, €124 million of long-term debt was classified as short-term liabilities.