Fitch rates Mobile TeleSystems bonds BB+

Fitch Ratings said it assigned OJSC Mobile TeleSystems' two proposed domestic bond issues of up to RUR 10 billion each, with maturity of five and seven years, expected senior unsecured foreign-currency ratings of BB+ and national long-term ratings of AA(rus).

The company has a long-term issuer default rating of BB+, short-term issuer default rating of B and national long-term rating of AA(rus).

The outlook is stable.

Ratings reflect sound competitive strengths and strong market positions in all of its countries of operations, the agency said.

Exposure to parent JSFC Sistema's (BB-/stable) group-wide risks associated with the lower credit quality of its other subsidiaries and possible changes in capital structure by Sistema are credit constraints, the agency noted.

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