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Fitch places Sistema, Bashneft on rating watch negative

September 18, 2014, 18:02 UTC+3
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LONDON, September 18. /ITAR-TASS/. Fitch Ratings agency has placed the ratings of Sistema holding company and its subsidiaries Mobile TeleSystems (MTS), Bashneft oil firm and MTS Bank on Rating Watch Negative, the international rating agency said on Thursday.


“The rating actions follow charges being levied against Vladimir Yevtushenkov, the majority shareholder and Chairman of the board of directors of AFK Sistema, in connection with the legalization of shares of BashTEK group,” Fitch said.

The agency said the consequences may be negative for all the affected companies, but the likelihood of negative developments and the exact impact cannot be estimated at this stage.

AFK Sistema said earlier its management believes that the acquisition of BashTEK group was legal and transparent.

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