OREANDA-NEWS. Standard & Poor's Ratings Services said today it raised its long-term corporate credit rating on Russia-based mobile telecommunications operator Vimpel-Communications (JSC) (VimpelCom) to 'BB+' from 'BB', reflecting the company's continuing strong performance. The outlook is stable.

"The upgrade reflects VimpelCom's continuing strong business performance and the remaining potential for further mobile market growth in Russia and the Commonwealth of Independent States," said Standard & Poor's credit analyst Lorenzo Sliusarev. "The rating action also reflects the company's favorable profitability trend and its improving financial profile, with robust cash flow generation and the ability to manage financial risks in a dynamic and challenging environment."

The ratings are limited by the company's exposure to intense competition in its key markets, combined with increasing mobile saturation and declining growth in Russia; VimpelCom's orientation toward growth and further geographical expansion; and the uncertainty of the evolving economic and administrative environments in Russia and the CIS.