RBC assigned 'B+' long-term credit rating with stable outlook by S&P
Moscow, October 16, 2007 - On October 15, 2007, OAO RBC Information Systems (MICEX, RTS: RBCI) was assigned a 'B+' long-term corporate credit rating and a short term credit rating of 'B' by Standard & Poor's Ratings Services (S&P). Additionally, S&P assigned its 'ruA+' Russia national scale issuer credit rating to RBC. The outlook is stable.
According to S&P, the ratings are supported by RBC's solidifying market position, continuing scale expansion, improving revenue diversification and increasing EBITDA and cash flow generation amid the dynamic growth of the Russian media market. At the same time, the ratings on RBC take into account the group's exposure to the Russian economy and the cyclical advertising market, an aggressive acquisition-based growth strategy, combined with uncertainties regarding Russia's complex regulatory environment.
The stable outlook reflects Standard & Poor's Ratings Services' expectation that RBC will continue to increase its economies of scale and strengthen its market position and competitiveness in the Russian media market.
"RBC is one of the first media companies, with major exposure to the Internet market, which has received a very strong credit rating. We are pleased with the achieved result, and see the rating as very supportive for our financial and business strategies", RBC Vice Chairman of Finance Dmitry Belik said.
Investor contact: Natalia Makeeva
Tel: +7 (495) 363-1111 (ext. 1369), e-mail: ir@rbc.ru, Web: www.rbcinfosystems.com.
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