The Russian Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
- Published: November 2011
We are updating our recovery analysis on Russian mobile telecommunications operator Mobile TeleSystems OJSC (MTS). We believe the company would be reorganized in the event of a default. Our simulated default scenario for MTS contemplates a default in 2016, as a result of excessive leverage and deteriorating operating performance. We assume that at our hypothetical point of default, the stressed enterprise value would be about $5.080 billion. We have assigned a recovery rating of '3' on the unsecured debt facilities, indicating our expectation of meaningful (50%-70%) recovery prospects for the unsecured debt holders. The rated debt instruments of Russian mobile telecommunications operator Mobile TeleSystems (OJSC) (MTS; BB/Watch Neg/--) are unsecured obligations. Russian ruble-denominated, unsecured debt instruments sit at MTS, while...
Companies mentioned in this report are: Mobile TeleSystems (OJSC)
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: Full Analysis
SHOW LESS READ MORE >
Mobile TeleSystems (OJSC)
|Electronic||The report will be emailed to you.|