S&P affirms North-West Telecom

Standard & Poor's said it affirmed the long-term corporate credit rating on North-West Telecom (JSC) at BB- and raised its Russia national scale rating on NWT to ruAA from ruAA-.

The outlook is positive. The ratings were removed from CreditWatch, where they were placed with developing implications on June 21.

"The CreditWatch resolution and affirmation reflect the elimination of near-term liquidity risks because the window for early repayment claims from creditors has closed," S&P analyst Alexander Griaznov said in a statement.

The affirmation reflects an assessment of the company's liquidity as "adequate," as the company recently has improved its liquidity position by securing approval for loans totaling RUB 5 billion, which should help the company cover the amortization payments on a syndicated loan, according to the agency.

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