Fitch affirms Volgatelecom

Fitch Ratings said it has affirmed OJSC Volgatelecom's ratings at long-term issuer default BB-, short-term issuer default rating B, national long-term A+(rus), and national senior unsecured A+(rus).

The outlooks for the long-term issuer default rating and national long-term rating are stable, the agency said.

"Despite the economic downturn, Volga's operating and financial performance is likely to remain stable," said Nikolay Lukashevich, a senior director with Fitch's TMT team.

"Management's commitment to severely curtail capex and to implement tight opex cuts should support margins and boost free cash flow generation so that most scheduled debt repayments can be financed from internally generated cash flows."

© 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.