Fitch rates MegaFon BB-, AA-(rus)

Fitch Ratings said it assigned OAO MegaFon a senior unsecured foreign currency BB- rating with a stable outlook and a national senior unsecured AA-(rus) rating.

Fitch said the ratings reflect MegaFon's position as one of the three nationwide cellular operators with the largest license coverage extending across the entire territory of Russia.

MegaFon's business is highly profitable and the outlook for financial improvements is positive, according to Fitch.

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