MTS's rating also factors in (1) the company's exposure to the weakening of Russia's credit profile, as captured by Moody's downgrade of the sovereign rating and Russia's country ceilings for foreign currency debt to Ba1 from Baa3 with negative outlook on 20 February 2015; (2) MTS's generous dividend payout policy shaped by Sistema JSFC
, although Moody's recognises transparency and predictability of this policy; (3) MTS's exposure to rouble depreciation, as around 25% of its debt (after hedges) and around 50% of capital expenditure (capex) is denominated in or linked to foreign currency; (4) strong competition in the Russian telecommunications market; and (5) challenges related to MTS's operations in the Commonwealth of Independent States.
The company's exposure to parent JSFC
Sistema's (MCX:AFKC) group-wide risks, which are connected with the lower credit quality of Sistema's other subsidiaries, and the possible influence of Sistema on MTS's capital structure are viewed by Fitch as a significant credit constraint, the agency elaborated.
(Sistema or the Company) a publicly-traded diversified holding company operating primarily in Russia and the CIS, announces that Artem Zassoursky, Sistema Vice President, Head of Strategy, has acquired 231,000 Sistema ordinary shares.
10 September 2014 - Russia's largest publicly-traded holding company JSFC
Sistema (OTCMKTS:JSFCF) said it had agreed to offload its minority stake in domestic children's goods seller JSC Detsky mir to the Russia-China Investment Fund (RCIF).
(Sistema or the Company) a publicly-traded diversified holding company operating primarily in Russia and the CIS, announces that it has signed an agreement with the Russian Federation, represented by the Federal Agency for State Property Management, whereby the Company will acquire 17.
25 April 2014 - German healthcare group Fresenius SE & Co KGaA (ETR:FRE) and Russian conglomerate Sistema JSFC
agreed to set up a pharmaceuticals joint venture in Russia, they said in separate statements today.
In our view, they grew on strong JSFC
Sistema's last-year results and investors' understandable wish to see the spread between the parent company and its subsidiaries at a much lower level.
(Sistema or the Company) , a publicly-traded diversified holding company operating primarily in Russia and the CIS, announces that on 23 June 2016 its subsidiary, Sistema Finance S.
3 April 2014 - Russian diversified holding company Sistema JSFC
(MCX:AFKS, LON:SSA) said it had purchased the 49% interest not yet owned in domestic real estate firm CJSC Business Nedvizhimost for RUB3.
AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENT OF INCOME FOR THE THREE MONTHS ENDED MARCH 31, 2009 AND 2008 (Amounts in thousands of U.
5 February 2014 - Russian diversified holding company AFK Sistema JSFC
(MCX:AFKS) and its telecoms unit Mobile TeleSystems OJSC (MCX:MTSS), or MTS, may each acquire a 10% stake in local online retailer Ozon for USD150m (EUR111m), Vedomosti said today, citing insiders.
AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE MONTHS AND THE YEARS ENDED DECEMBER 31, 2008 AND 2007 (Amounts in thousands of U.