OREANDA-NEWS. December 18, 2012. The International Rating Agency Moody’s Investors Services today has confirmed MegaFon’s international corporate rating at Baa3 with a negative outlook and thusthe review initiated by Moody’s on 26th of April 2012 has been completed.

According to Moody’s MegaFon investment grade rating reflects its sustainable operating performance and free cash flow generation, strong market position and the potential for organic growth due to its progress in mobile data services and fixed-to-mobile convergence opportunities. It also continues to be supported by MegaFon’s strong liquidity and long-term debt maturity profile, commitment to cost-saving measures and its conservative financial policy.

Gevork Vermishyan, Chief Financial Officer of MegaFon, commented on the Moody’s confirmation as follows:

“We are very pleased at this decision by Moody’s. We believe that the confirmation of our rating is the result of our continuing pursuit of operational excellence and commitment to maintaining investment grade metrics. 2012 year has undoubtedly proved to be an outstanding year for MegaFon and we are glad that MegaFon continues to hold the highest rating ever accomplished by any Russian telecommunications company”.