S&P: Central Telecommunications on positive watch

Standard & Poor's said it placed its B long-term corporate credit and 'ruBBB+ Russia national-scale ratings on Central Telecommunications Co. (OJSC) on CreditWatch with positive implications.

The CreditWatch placement reflects potential improvement in the company's creditworthiness given the company's continuing progress in strengthening its financial position, enhancing liquidity and maintaining a positive performance trend.

Central Telecommunications's financial leverage continues to decline, helped by prudent containment of capital spending, increasing profit and the resultant growth in positive free operating cash flow, the agency said.

The ratings are supported by the company's continuing market dominance in key business segments, the steadily improving regulatory and industry dynamics in Russia and the company's strengthening credit protection measures, S^P noted.

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