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Bulletin: Telenor Ratings Unaffected By Proposed Pooling Of Vimpelcom, Kyivstar Stakes With Alfa Group Oct 09
Standard & Poors, Oct 2009
Abstract
LONDON (Standard & Poor's) Oct. 6, 2009--Standard & Poor's Ratings Services said today that its ratings and outlook on Norwegian telecommunications incumbent Telenor ASA (A-/Negative/A-2) are unaffected by the announced pooling of Telenor's 33.6% economic interest in leading Russian mobile operator Vimpel-Communications (JSC) (VimpelCom; BB+/Negative/--) and its 56.5% stake in Ukrainian operator CJSC Kyivstar GSM (not rated) with those of Alfa Group (not rated) entities. Conditions that have to be fulfilled for the transaction to take place include the withdrawal or dismissal of disputes between Telenor and Alfa Group. The concomitant normalization of shareholder relations could largely remove one potential rating downside trigger for Telenor. The ratings on Telenor do not presently assume significant future cash flow receipts from VimpelCom...
Companies mentioned in this report are: Telenor ASA
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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