S&P affirms Rostelekom OAO outlook
Rostelekom OAO:Standard & Poor's Ratings Services (S&P) says that it has affirmed BB+ long-term corporate credit rating on Rostelecom.The outlook is stable.The affirmation follows S&P review of Rostelecom's stand-alone credit profile (SACP), which S&P revised upward to bb+ from bb.Therefore, in accordance with S&P methodology for government-related entities (GREs), the rating on Rostelecom no longer incorporates notches of uplift from the rating on Russia and is unaffected by the outlook revision on the sovereign to negative from stable.The stable outlook is based on S&P expectation that Rostelecom's adjusted debt to EBITDA will not exceed 2.5x and that the company will generate positive free operating cash flow.
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