S&P повысило рейтинг Казахтелекома до "BB" с "BB-"

/REUTERS, Москва, 19.08.05/ - Международное рейтинговое агентство Standard & Poor's Ratings Services повысило в пятницу долгосрочный корпоративный кредитный рейтинг Казахтелекома до уровня "ВВ" с "ВВ-", сославшись на улучшение показателей компании. Прогноз изменения рейтинга - стабильный, говорится в сообщении агентства. "Повышение отражает улучшение деловых позиций Казахтелекома, который продолжает доминировать во всех ключевых сегментах рынка, а также значительное улучшение качества и возможностей сетей компании и позитивную динамику экономики Казахстана", - отмечает аналитики S&P Лоренцо Слюсарев. "Изменение рейтинга также является следствием улучшения финансовых показателей Казахтелекома", - добавляет он. Ниже приводится оригинальный текст сообщения агентства Standard & Poor's на английском языке. KAZAKHTELECOM (OJSC) RATING RAISED TO 'BB' ON IMPROVING PERFORMANCE; OUTLOOK STABLE MOSCOW (Standard & Poor's) Aug. 19, 2005--Standard & Poor's Ratings Services said today it raised its long-term corporate credit rating on Kazakhtelecom (OJSC) (KTC), the incumbent fixed-line telecommunications operator in the Republic of Kazakhstan, to 'BB' from 'BB-', reflecting the company's improving performance. The outlook is stable. "The upgrade reflects KTC's improving business position, with continuing dominant market shares in key segments; its considerably improved network quality and capabilities; and positive economic dynamics in Kazakhstan," said Standard & Poor's credit analyst Lorenzo Sliusarev. "The rating action also reflects KTC's strengthened financial profile." The rating remains constrained by the evolving market structure and changing regulatory environment in the Kazakh telecoms sector, the ongoing liberalization of long-distance services, and increasing competition. KTC's continuing network investments and its sizeable dividend payouts--combined with plans to establish its own mobile franchise--limit the prospective strength and flexibility of its financial profile. "Standard & Poor's expects that KTC's improved business profile--including the competitive advantage of owning a modern nationwide fiber-optic network--and manageable exposure to financial risk provide the company with the means to manage through the ongoing market and regulatory restructuring and increasing competition," added Mr. Sliusarev. We expect KTC's potential investment into establishing its own mobile franchise to be managed in a prudent manner without causing a significant deterioration of credit metrics. The company would therefore need to finance any large strategic investments through a combination of additional borrowings and liquidation of marketable nonstrategic assets and investments. The maintenance of a manageable dividend policy and adequate liquidity profile will remain important for KTC's credit quality. [2005-08-19]