OREANDA-NEWS. Standard & Poor's Ratings Services said today it raised its long-term corporate credit rating on Golden Telecom Inc. (GT), a leading alternative telecommunications operator in Russia and the Commonwealth of Independent States (CIS), to 'BB' from 'BB-', reflecting the company's strengthened business profile and prudent financial risk management. The outlook is stable.
    
"The upgrade reflects the company's strengthened business profile, with strong market shares and a leading consolidator position in Russia's corporate fixed-line market," said Standard & Poor's credit analyst Lorenzo Sliusarev.

The ratings remain constrained, however, by the uncertainty of further industry reforms in both Russia and the CIS and by intensifying competition in GT's core markets.