OREANDA-NEWS. The Board of Directors of JSC North-West Telecom approved the Financial Strategy of JSC North-West Telecom for the Years 2007 – 2009.

The adopted financial strategy determines the basic directions of the fiscal policy of the Company within a medium-range forecast and establishes target parameters of the key financial indices for the years 2007 – 2009.

To improve the investment attractiveness and to maintain the financial stability, the company will put special emphasis on diversification of funding sources (the potential funding tools will include the floatation of rouble bonds, international syndicated loans and CLN), extension of the average periods of borrowing, maintenance of a high level of liquidity and improvement of the financial risks management system.

The debt load will remain at the moderate level, which has been reflected in the following approved key figures:
•          Maintaining the share of own funds in liabilities at the level of at least 55%,
•          Maintaining the debt to EBITDA index at the level not exceeding 1.6,
•          Maintaining the liquidity ratio at the level of 1.0.