Fitch rates Mobile TeleSystems bond BB+, AA(rus)

Fitch Ratings said it assigned OJSC Mobile TeleSystems' proposed first domestic bond issue, totalling RUR 10 billion and with a headline maturity of five years, an expected senior unsecured foreign currency rating of BB+ and national long-term rating of AA(rus).

The agency said that Mobile TeleSystems is rated long-term issuer default BB+ with a stable outlook, short-term issuer default rating B and national long-term AA(rus) with a stable outlook.

The bond will constitute senior unsecured obligations of Mobile TeleSystems, Fitch noted, adding that the draft bond prospectus does not contain any financial or other covenants.

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