Fitch affirms Sibirtelecom

Fitch Ratings said it affirmed OAO Sibirtelecom's long-term issuer default rating at B+ and short-term issuer default rating at B.

The outlook is stable.

The ratings reflect the company's dominant market position in its area of operations in eastern and much of western Siberia, Fitch said. As the company owns the most developed last mile and backbone network in the area, the agency said, its market share in the residential segment is likely to remain unrivalled. Although, competition in the business segment is likely to intensify, Fitch said.

The ratings also consider the company's high internet access market share and the broadband segment's growing contribution to profitability, the agency added.

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