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S&P revises VimpelCom view to positive
Standard & Poor's said it revised its outlook on VimpelCom Ltd. to positive from stable.
At the same time, the agency affirmed its BB long-term corporate credit rating and related debt and recovery ratings on VimpelCom.
S&P said the outlook change reflects its view that VimpelCom's credit metrics could strengthen in the next 12-18 months as a result of its asset sale in Algeria – once completed – and decreased dividends.
In line with previous indications, S&P said it continues to believe that VimpelCom's achievement of the adjusted debt-to-EBITDA of less than 2.5x could be commensurate with a higher rating.
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