ROSTELECOM PJSC (RKMD)
S&P affirms Rostelecom's rating of 'BB+' following announcement of 100% Tele2 Russia consolidation
Moscow, Russia - November 21, 2019 - Rostelecom PJSC (MOEX - RTS: RTKM, RTKMP; OTCQX: ROSYY), Russia's national telecommunications operator, today announces that its credit rating of 'BB+' with a Stable Outlook has been affirmed by S&P Global Ratings following the announcement of 100% Tele2 Russia consolidation. S&P outlines that Rostelecom's 100% consolidation of Tele2 Russia enhances the company's competitive position in the Russian telecommunication market. Further information on Rostelecom's ratings is available at www.standardandpoors.com. * * * PJSC Rostelecom is the largest digital service provider, operating in all segments of the telecommunications market in Russia, it serves millions of households, the state and private enterprises across the country. Rostelecom is Russia's undisputed market leader, providing high-speed Internet access to over 13.1 million users and pay-TV services to more than 10.3 million clients, over 5.5 million of which are subscribed to Rostelecom's IPTV services on a national level. In the nine months of 2019, the Group generated RUB 242.6 billion of revenues, RUB 81.4 billion of OIBDA (33.6% of revenue) and RUB 16.4 billion of net income. The Group is the leading provider of telecommunications services to government bodies and corporates of all levels. Rostelecom is a key strategic innovator that provides solutions in the following fields: E-Government, cybersecurity, data-centers and cloud computing, biometry, healthcare, education and housing & utility services. The Group's stable financial position is confirmed by its credit ratings. Rostelecom has been assigned 'BBB-' and 'BB+' international credit ratings by Fitch Ratings and Standard&Poor's respectively, and AA(RU) by ACRA. * * * Certain statements in this press release are forward-looking statements within the meaning of the U.S. federal securities laws and intended to be covered by the safe harbours created thereby. Those forward-looking statements include, but are not limited to:
Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties and other factors include:
Many of these factors are beyond the Company's ability to control or predict. Given these and other uncertainties, readers are cautioned not to place undue reliance on any of the forward-looking statements contained herein or otherwise. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements (which are made as of the date hereof) to reflect events or circumstances upon the annual report publication or to reflect the occurrence of unanticipated events, except as may be required under applicable laws.
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ISIN: | US7785291078 |
Category Code: | MSCM |
TIDM: | RKMD |
LEI Code: | 2534001D752JPNM0H170 |
Sequence No.: | 30659 |
EQS News ID: | 918767 |
End of Announcement | EQS News Service |