Nov 20 - Following its review of 66 EMEA TMT companies on 14 September 2012, Fitch Ratings
has affirmed additional ratings of entities and instruments related to Sistema Joint Stock
Financial Corp., as follows:
Sistema Joint Stock Financial Corporation.
Long-Term Issuer Default Rating (IDR): affirmed at 'BB-', Outlook Stable
Long-Term local currency IDR: affirmed at 'BB-, Outlook Stable
National Long-Term Rating: affirmed at 'A+(rus)', Outlook Stable
Senior Unsecured Debt: affirmed at 'BB-' and 'A+(rus)
Sistema Capital S.A.
Senior Unsecured Debt Guaranteed by Sistema Joint Stock Financial Corporation: affirmed at
Sistema International Funding S.A.
Loan Participation Notes Guaranteed by Sistema Joint Stock Financial Corporation: Affirmed
The original list of rating actions is available at www.fitchratings.com or by clicking on
the link below.
Link to Fitch Ratings' Report: Quarterly Review TMT