The Russian operator ER Telecom has announced it has stopped working with the international rating agency Standard and Poor’s (S&P).
In a statement it said: “Due to the change in the macroeconomic situation, the importance of international credit ratings for Russian companies has significantly decreased. In this situation, the holding decided to stop cooperation with Standard and Poor’s and expand cooperation with national rating agencies”.
ER Telecom, which is one of the leading providers of electronic communication services in Russia, added earlier that the national rating agency Expert RA affirmed the credit rating of ER-Telecom Holding JSC at ruBBB+ with a positive outlook. The NKR also assigned the company an A-.ru credit rating with a stable outlook.
