S&P ups North-West Telecom

Standard & Poor's said it raised its long-term corporate credit rating on North-West Telecom (JSC) to BB- from B+.

The agency said that this reflects the company's improving business profile and continued moderate financial risk exposure.

The outlook is stable.

At the same time, S&P said it raised its long-term Russia national scale rating on the company to ruAA- from ruA+ and assigned its ruAA- national scale rating to the company's proposed Russian ruble 2 billion bond issue.

S&P added that the upgrade reflects North-West Telecom's improving business position, which benefits from the company's leading market share in traditional telephony, progress in upgrading its network and strengthening operating profitability, as well as steadily improving regulatory and industry dynamics.

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