Russia's AvtoVAZ seeks $1 bln state VEB loan


MOSCOW, Nov 26 (Reuters) - Russia's largest car maker AvtoVAZ is seeking a credit of up to $1 billion from state bank VEB, a source familiar with AvtoVAZ's financial situation told reporters on Wednesday. He said the credit would go toward financing AvtoVAZ's core activities and not to help it refinance debts. Russia's largest car makers -- AvtoVAZ , Gaz Group and KamAZ -- have all turned to the state for help, with some halting production lines, citing a double-digit drop in demand. ...

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