S&P affirms VolgaTelecom

Standard & Poor's said it affirmed its BB- long-term corporate credit and ruAA- Russia national-scale ratings on VolgaTelecom (OJSC).

The outlook is stable.

The agency said that the ratings on VolgaTelecom are constrained by the company's reduced financial flexibility, modest free cash flow generation and intense competition in the mobile segment.

The possible risks associated with ongoing industry and regulatory reform, as well as moderate economic characteristics of the service area also constrain the rating, S&P noted.

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