Uralsvyazinform (RTS and the Moscow Interbank Stock Exchange: URSI/URSIP, ADR: UVYZY/UVYZYP) - the largest operator of fixed and a mobile services of the Ural region informs on credit ratings increasing by rating agency Standard&Poor's of in foreign and national currency.
Standard&Poor's excluded long-term credit ratings of Uralsvyazinform in foreign and national currency from CreditWatch list («a rating on revision») with the developing forecast and raised the ratings from level «B+» to level «BB-» on October, 30th, 2010. The outlook of credit ratings of the Company - "Positive".
S’nP’s reported: The rating action mainly reflects an improvement in Uralsvyazinform's financial profile. We have raised our assessment of Uralsvyazinform's liquidity to "adequate" from "weak", as the company has managed to decrease its reliance on short-term debt in the course of 2010. In addition, the risk of early repayment claims from creditors, which we previously saw as a possible near-term risk, has now been eliminated, as the window for such claims is now closed.
The positive outlook reflects the possibility that we could raise the ratings if Uralsvyazinform continues to strengthen its stand-alone credit profile, particularly by further improving its liquidity.