S&P: VimpelCom on watch

Standard & Poor's said it placed its BB+ long-term corporate credit rating on Vimpel-Communications (JSC) on CreditWatch with negative implications, following the company's announcement that it is in talks to acquire fixed-line operator Golden Telecom Inc. (BB/Watch positive) for $4.2 billion in cash.

The CreditWatch placement indicates that the rating on VimpelCom may be lowered - by a maximum of one notch - or affirmed at the current level, following the debt-financed takeover of Golden, the agency said.

Based on preliminary indications, however, the agency said it believes that the rating on VimpelCom is likely to be affirmed at the current BB+ level.

© 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.