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Moscow City Telephone

December 17, 2001

On 14 December 2001 "Standard & Poor's" raised the long-term foreign exchange credit rating awarded to the Open Joint-Stock Company "Moscow City Telephone Network" (OJSC MGTS) from "CCC-" to "CCC+" (Forecast Stable)

As was emphasized in the "Standard & Poor's" press release, the factors conducive to uplifting the Company's credit rating were as follows:

  • Substantial expansion of the economic activity in Moscow that spurred an increased demand for telecommunications services;
  • Augmentation of the income generating potentials associated with finalizing the Company's transport network construction.
  • OJSC MGTS' demonstrated ability to repay and service the debt and to mitigate the risks of financing.

 

 

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