Fitch rates North-West Telecom bond A+(rus)

Fitch Ratings said it assigned OAO North-West Telecom's fifth domestic bond issue, totaling RUR3 billion and maturing in May 2013, a final national long-term rating of A+(rus). The company is rated long-term issuer default rating BB- with a stable outlook, short-term issuer default rating at B and national long-term A+(rus) with a stable outlook.

The decision follows the review of final documents. Investors have a put option in May 2010 that reduces the effective maturity of this instrument to two years.

The rating reflects the company's dominant market position as a regional incumbent telecoms operator, Fitch said. The company controls about 75% of the local services market and is well-positioned to retain its dominance in this segment, the agency said.

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