MOSCOW, August 10 (RIA Novosti) - Fitch Ratings affirmed the Issuer Default rating (IDR) of North-West Telecom [RTS: SPTL] at B+ with a Stable Outlook and short-term rating at B, the international rating agency said Thursday.
"The ratings reflect NWT's dominant market position as a regional incumbent telecoms operator. The company controls about 76% of the local services market and is well positioned to retain its dominance in this segment," Fitch said.
North-West Telecom (formerly St. Petersburg Telephone Network), whose licensed territory covers all of the Northwestern Federal District with a population of 13.7 million, is part of telecoms giant Svyazinvest, which owns 39.5% of its stock.
The company's charter capital is 1.1 billion rubles ($40.4 million) and is divided into 880 million ordinary and 250 million preference shares with a face value of 1 ruble.
