Date: 2 months ago   Category: IT & Media

S&P has upgraded the ratings of Veon and VimpelCom to "BB" — Rambler News Service


S&P has upgraded the ratings of Veon and VimpelCom to "BB"
Photo: RIA News/Alexey Filippov the International rating agency S&P Global Ratings has improved the long-term credit rating of the issuer of Veon and the Russian operator "VimpelCom" (works under a brand Beeline) to "BB" with "BB", reports the agency. The forecast for the ratings of both companies — stable. S&P has explained these rating actions with the fact that Veon has finished the transaction on sale of 50% of stocks of the Italian mobile network operator Wind Tre of the Hong Kong company CK Hutchison for $2,9 billion. As a result of the transaction the relation of a net debt of Veon to EBITDA will decrease to 1,7 in comparison with 2,5 as of June, 2018. Earlier, on July 6, 2018, the ratings of Veon and VimpelCom have been placed by S&P in the list on revision with "positive" expectations. Now the agency has removed the ratings of the companies from this list.

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