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North-West Telecom

September 26, 2008

Fitch Ratings confirmed North-West Telecom’s credit rating at “ÂÂ-“, “Stable” forecast

On September 25, 2008, the Fitch Ratings international rating agency confirmed the international and national long-term credit rating (issuer’s long-term default rating) of OJSC North-West Telecom at the “ÂÂ-“ level, “Stable” forecast, and “A+ (rus)” level, “Stable” forecast, respectively. The Company’s short-term rating was also confirmed at the “B” level.

  • retained and enhanced market positions of the Company in key segments,
  • diversified subscriber base of the Company, which ensures a stable cash flow,
  • moderate level of the Company’s debts.

Furthermore, the Fitch Ratings analysts expressly emphasize that “by the results of the 1st half of 2008, only 18% of N.W.Telecom debts have a maturity date of less than one year, which is much better than with similar companies and suits the assigned score.”

“This confirmation of our credit rating in today’s situation that is far from easy indicates a thoughtful development strategy pursued by North-West Telecom, with a reasonable balance of borrowed and own funds, and long-term and short-term liabilities. The successful financial policy, plus enhanced market positions of the Company, has enabled us to confirm N.W.Telecom’s status as a reliable and stable company once again,” commented Venera Khusnutdinova, Associate General Manager and Economy & Finance Manager of N.W.Telecom.

 

 

 

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