Fitch Ratings calls off Uralsvyazinform’s rating

6 April 2011 (09:21)

Fitch Ratings confirmed and called off at the same time the ratings of six Russian old-standing landline phone operators – CenterTelecom, North-Western Telecom, Uralsvyazinform, VolgaTelecom, SiberiaTelecom, and Far Eastern Telecommunications Company – including their long-term Issuer Default Ratings (currently at BB, with Positive rating outlook).

Fitch no longer rates these companies or analyses them.

The ratings call-off has been brought about by the completion of the operators’ merger with Rostelecom – Russia’s national old-standing telecommunications provider.

‘The companies are not supposed to operate as separate legal entities any longer; the six operator’s prior-to-merger liabilities are expected to be taken upon by Rostelecom. The operators’ public debt is to be traded in for Rostelecom’s stock, issued on the terms similar to those employed for the six operators’ debts,’ Fitch Ratings says.

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