S&P rates Comstar United BB-

Standard & Poor's said it assigned its BB- long-term corporate credit rating to Comstar United TeleSystems JSC.

The outlook is positive.

At the same time, S&P said it assigned its ruAA Russia national-scale rating to the company.

The ratings are constrained by the credit quality of Comstar's major shareholder, Sistema JSFC (BB-/positive), which has control over the company's strategy and financial policy through a 51% ownership interest, the agency said, adding that Comstar's pronounced growth orientation and need to continue upgrading its vast, highly complex Moscow network, the dynamic competitive environment and uncertainty regarding ongoing industry reform also limit the ratings.

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