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S&P raises MTS’ rating from BB+ to BBB-

July 16, 2014, 21:18 UTC+3 MOSCOW
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MOSCOW, July 16. /ITAR-TASS/. Standard & Poor’s has raised the long-term credit ratings of Russia’s Mobile TeleSystems (MTS) from BB+ to BBB-, with a negative outlook.

The decision was made after the upgrade of MTS’ parent company AFK Sistema from BB to BB+.

S&P expects MTS to expand its operations on the Russian telecommunications market and increase income from data transmission services.

It projects a moderate decline in the company’s income in 2014 partly due to the worsening of the economic situation in Russia and Ukraine.

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