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Recent news
23.04.2010
Fitch Ratings upgrades Uralsvyazinform’s ratingsPress release
International rating agency Fitch Ratings has upgraded the long-term foreign credit rating of Uralsvyazinform from BB- to BB with a stable outlook. Also, the operator’s long-term national rating was raised from À+(rus) to À- (rus) with a stable outlook.
Fitch Ratings noted in a statement that “Uralsvyazinform’s rating hike reflects a decline in the operator’s refinancing risks. According to Fitch’s evaluation, the company’s liquidity will now make it possible to comfortably cover the company’s short-term debt. The rating is supported by Uralsvyazinform’s strong market position in fixed-line voice, Internet service and mobile telephony segments in its region of activities, as well as stable operating and financial performance, moderate leverage and a positive cash flow. Fitch also notes as a positive issue that the operator has a low currency risk, since its debt is mostly denominated in rubles.
Ratings assigned:
- Long-term foreign currency issuer default rating (IDR) was raised from BB- to BB, with a stable outlook;
- Long-term domestic currency issuer default rating (IDR) was assigned a BB rating, with a stable outlook;
- Senior unsecured national currency rating was assigned a BB rating;
- Short-term foreign currency issuer default rating (IDR) was affirmed as a B rating;
- Long-term national rating was raised from A+(rus) to AA-(rus), with a stable outlook;
- National senior unsecured rating was upgraded from A+(rus) to AA-(rus).
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