Group "B" rating according to the "S&P" scale implies that the issuer should be presently able to fulfill its financial liabilities, on the one hand, and that it may be pretty vulnerable should it find itself in unfavorable business, financial and economic conditions, on the other.

Besides, the Agency also raised the PJSC MGTS long-term credit rating from "ruBBB" to "ruBBB+" according to the Russian scale. This rating is also an indication of a sufficient capability of the borrower to timely and fully meet its debt liabilities as compared with other Russian borrowers.

The ratings conferred on PJSC MGTS reflect its status as a basic operator in Moscow which is the most highly developed administrative area of the Russian Federation. In the process of changing the rating, the high operational results and reduction of the net debt of the Company were taken into account. On top of that, the growth of the Company’s income acquisitions potential associated with the completion of construction of its telecommunications transport network and the consolidation of telecommunications business being carried out at present, which was previously divided among competing operators, have had a positive impact on the ratings of the Company.