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  Wednesday, November 25, 2020
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Standard & Poor's today raised the long-term credit rating of Mobile TeleSystems (MTS) from ?+ to ??-, with a 'stable' outlook
Standard & Poor's today raised the long-term credit rating of Mobile TeleSystems (MTS) from ?+ to ??-, with a 'stable' outlook. The upgrade was made on the basis of the firm's steady market position and a significant increase in its operational cash flow. 'The higher rating reflects MTS' demonstrated capacity to hold the leading position in growing mobile phone markets in Russia and Ukraine and the fast pace of cash flow increases in these markets, despite a rise in the relative proportion of low-income subscribers,' Pavel Kochanov, an S&P credit analyst, said. 'Also fundamental to the ratings change is an expectation of a balanced financial policy by the company and continuance of MTS' relative financial separation from its main stockholder, Sistema, with its lower credit rating.' Sistema (B/stable) is a diversified Russian holding company whose portfolio includes a 50.6% stake in MTS, its key strategic asset. MTS retains a degree of autonomy from Sistema through the 25.1% share held by T-Mobile, a subsidiary of Deutsche Telekom (BBB+/CreditWatch Positive/A-2), and the fact that its dividend policy is worked out by agreement of the shareholders.
Print Standard & Poor's today raised the long-term credit rating of Mobile TeleSystems (MTS) from ?+ to ??-, with a 'stable' outlook Bookmark Standard & Poor's today raised the long-term credit rating of Mobile TeleSystems (MTS) from ?+ to ??-, with a 'stable' outlook

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