Fitch affirms Rostelecoms investment grade rating of BBB- following announcement of 100% Tele2 consolidation

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Moscow, Russia – November 18, 2019 Rostelecom PJSC (MOEX - RTS: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today announces that its Issuer Default Rating (IDR) of ‘BBB- with a Stable Outlook has been affirmed by Fitch Ratings following the announcement of 100% Tele2 consolidation. Fitch outlines that the enlarged company will have an opportunity to offer bundled services, achieve a better network coverage and extract significant synergies in rolling out a future 5G network. Moreover, Rostelecom group will be better equipped to ensure seamless switch between mobile and fixed-line solutions and manage technological innovations.

Further information on Rostelecoms ratings is available at www.fitchratings.com.