S&P ups Kyivstar senior debt to B

Standard & Poor's said it raised its long-term corporate credit and senior unsecured debt ratings on Ukraine-based mobile telecommunications operator CJSC Kyivstar GSM to B from B-.

The outlook is stable.

"The upgrade reflects Kyivstar's maintenance of its strong market position and solid profitability and the growth in its operating cash flow in the dynamic Ukrainian mobile telephony market," said S&P credit analyst Michael O'Brien.

In addition, S&P said recent regulatory changes allowing the introduction of the "calling party pays" policy, whereby mobile subscribers no longer will pay to receive calls, is expected to have a positive impact on driving growth in subscriber numbers and call volumes and contributing to further revenue and EBITDA growth - assisted by a reorganization of tariffs and interconnection rates.

© 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.