OREANDA-NEWS. Standard & Poor’s Ratings Services raised its long-term corporate credit rating on CenterTelecom to "B+" from "B" (outlook: positive) and long-term Russia national scale rating to "ruA+" from "ruBBB+", reported the press-centre of CenterTelecom.

All ratings were removed from CreditWatch, where they had been placed on June 06, 2007.
 
According to Standard & Poor’s experts the upgrade reflects the company's strengthened financial profile and operating performance, also improved creditworthiness on the back of continuing strengthening of financial position, expanding liquidity, and persisting positive performance trend. “CenterTelecom's financial leverage continues to decline, helped by prudent management of capital spending, increasing profit, and the resultant growth in positive free cash flow,” said Standard & Poor’s credit analyst Lorenzo Sliusarev.
 
As the Ratings Services’ analysts pointed out, the company's remaining strategic focus on cost cutting, expansion of profitability-accretive value-added services and continuing favorable regulatory and industry trends in Russia enhances profitability, and support the positive outlook on its ratings. The positive outlook reflects Standard & Poor's expectation that CenterTelecom should continue to improve its credit protection measures through expanding EBITDA and cash flow generation and gradually declining debt leverage; to diversify its revenues while enhancing its operations and network.
 
Standard&Poor’s release on www.standardandpoors.com / www.standardandpoors.ru