Fitch rates MegaFon bonds AA-(rus)

Fitch Ratings said it assigned OAO MegaFon's Russian ruble 3 billion issue of domestic bonds with maturity in April 2008 a national AA-(rus) rating, on par with the company's national senior unsecured rating.

Fitch said the bond's rating reflects the bondholders' equal claim rights as other OAO MegaFon's senior unsecured creditors'.

The bond does not contain any financial covenants or other restrictions that could limit the company's discretion over its use of the bond proceeds or affect its financing and operating profile.

Fitch said the rating reflects MegaFon's position as one of the three nationwide cellular operators in Russia with around 18% market share at end-February 2005.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.