und mts
S & P places AFC Sistema and MTS ratings on a negative outlook revision
MOSCOW, January 4. / TASS /. The international rating agency Standard & Poor's placed long-term credit ratings of AFK Sistema B + and MTS BB on the list for revision with a negative outlook. This is stated in a press release of the agency.
AFK Sistema's rating "B +" and MTS "BB" rating are put on the list for revision with a "negative" outlook on the background of news about the settlement agreement with Rosneft, "the statement said.
The Arbitration Court of Bashkiria on December 26 approved the settlement agreement between Rosneft, Bashneft and the Ministry of Property of Bashkortostan with AFK Sistema and Sistema-Invest. The corporation, which acts as a defendant in the case of reorganization of the Bashkirian oil company in 2014, will pay 100 billion rubles to Bashneft.
As reported, to compensate for losses of Bashneft, the corporation uses its own and borrowed funds raised with the assistance of Sberbank and the Russian Direct Investment Fund (RFPI), which mediated negotiations on an amicable agreement. Head of RFPI Cyril Dmitriev said that the fund will provide AFK Sistema with a short-term loan of 40 billion rubles for payments under the settlement agreement with Rosneft.
The settlement also provides for a gradual lifting of the arrest of a portion of AFK Sistema's assets levied as collateral for claims filed by Rosneft, including shares in Detsky Mir and MTS. http://tass.ru/ekonomika/4857385
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