Rostelecom (NYSE: ROS; RTS, MICEX: RTKM, RTKMP), Russia’s national long-distance telecommunications operator, today welcomed the decision by Standard & Poor’s to upgrade Rostelecom’s long-term credit rating to «BB-» from «B+» with a stable outlook.

S&P commented in its report that the change in rating reflects the Company’s strengthened financial profile with strong operations and minimal debt levels.

Rostelecom’s stable operating performance combined with management's focus on tightening cost control and the Company’s sound profitability were positively assessed by S&P. Continual deleveraging and stable positive free cash flow generation support Rostelecom’s strong liquidity position.

“The stable outlook reflects Standard & Poor’s expectation that Rostelecom will sustain its limited exposure to financial risk and sound credit protection in the near to medium term,” the leading international rating services provider noted.