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Bulletin: Telenor Ratings Presently Unaffected By Administrative Freezing Of Vimpelcom Shares Mar 09
Standard & Poors, March 2009
Abstract
LONDON (Standard & Poor's) March 13, 2009--Standard & Poor's Ratings Services said today that its 'BBB+' ratings and negative outlook on Norwegian telecom incumbent Telenor ASA are not immediately affected by the reported administrative 'freezing' of Telenor's 33.6% common share interest in Russian mobile operator Vimpel-Communications (JSC) (VimpelCom: BB+/Negative/--). The freezing of the shares would appear to be another stage, possibly more serious, in the long-running disputes between Telenor and Alfa Group as shareholders in both VimpelCom and CJSC Kyivstar GSM (not rated). The freezing may be in response to Telenor's statement that it will not pay the appealed $1.7 billion fine levied by an Omsk Court earlier in March 2009 and also follows a recent ruling by a U.S....
Companies mentioned in this report are: Telenor ASA,Vimpel-Communications (JSC)
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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