Fitch affirms MegaFon

Fitch Ratings said it affirmed OAO MegaFon's long-term foreign-currency and local-currency issuer default rating at BB+ and short-term foreign-currency issuer default rating at B.

The agency also said it affirmed the national long-term rating at AA(rus) and foreign- and local-currency senior unsecured rating at BB+.

The outlook is positive.

The positive outlook reflects an expectation that MegaFon shareholders will be able to put in place a sustainable financial strategy for the company, Fitch said.

The agency said it expects Megafon's financial performance to remain strong.

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