Standard & Poor confirms Rostelecom’s Corporate Credit Rating of ‘BB+’ with a Stable Outlook
Print version
31.03.2014
Moscow, Russia – March 31, 2013 – Rostelecom OJSC (MOEX - RTS: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today announces that Standard & Poor’s Rating Services (“Agency”) has confirmed Rostelecom’s ‘BB+’ Corporate Credit Rating with a Stable Outlook. Related bond issues with ratings of ‘BB+’ with a Stable Outlook have also been confirmed by the Agency.
The Agency noted that Rostelecom’s stand-alone credit profile was upgraded by one notch reflecting the Company`s improved liquidity position. However, this improvement was eliminated by changes made by the Agency to its methodology, which no longer incorporates any uplift provided by support offered to government-related entities. As a result, the Company`s credit rating remained intact.
Kai-Uwe Mehlhorn, Senior Vice-President and Chief Financial Officer, commented: “We are delighted that the Agency has upgraded our stand-alone credit profile to reflect the company`s enhanced liquidity position.”
Further information on Rostelecom’s ratings is available at http://www.standardandpoors.com/home/ru/ru.