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BULLETIN:Norway-Based Telenor ASA Ratings Unchanged By Vimpel-Communications Offer On Kyivstar Feb 06
Standard & Poors, Feb 2006
Abstract
PARIS (Standard & Poor's) Feb. 14, 2006--Standard & Poor's Ratings Services said today that its ratings on Norway-based telecom operator Telenor ASA (A-/Negative/A-2) remained unchanged after the group announced that it was considering a conditional, all-share offer from Russian mobile telecom operator Vimpel-Communications (JSC) (Vimpelcom; BB/Positive/--) on the Ukrainian mobile telecommunications operator CJSC Kyivstar GSM (Kyivstar; BB-/Stable/--). Telenor has a controlling 56.5% stake in Kyivstar, while it is a minority shareholder in Vimpelcom, with 26.6% and 29% of voting and economic rights, respectively. Standard & Poor's has analytically deconsolidated Kyivstar's higher-risk cash flows from Telenor's figures. The offer is still conditional and discussions are at an early stage. Any transaction would have to be considered in the light of Telenor's...
Companies mentioned in this report are: Telenor ASA,CJSC Kyivstar GSM
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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