Rostelecom OJSC (MOEX - RTS: RTKM, RTKMP; OTCQX: ROSYY), Russia's national telecommunications operator, announced that its Issuer Default Rating (IDR) of 'BBB-' with a Stable Outlook has been affirmed by Fitch Ratings.
The Fitch report states that Rostelecom is likely to retain its leading market position in the fixed-line and broadband segments. Rostelecom will also continue to deliver B2G projects and enhance its leadership position as an ICT provider for the state.
To recall, Rostelecom is one of the largest national telecommunications operators in Russia and Europe. The Group operates in all segments of the telecommunications market and covers more than 34 million households. Rostelecom is an undisputable leader of the broadband and pay-TV markets in Russia with over 10.6 million fixed-line broadband subscribers and over 7.5 million pay-TV subscribers. The Group is a market leader in providing telecommunications services to government bodies and corporates of all levels. It is also an important innovator that provides solutions in the field of medicine, E-Government, cloud computing, education, security and housing & utility services. Rostelecom was assigned 'BBB-' and 'BB+' international credit ratings by Fitch Ratings and Standard & Poor's respectively.