Kreditwürdigkeit von Sistema runter. Wegen der Divi-zahlung, ist zu erwarten, dass Sistemas Liquiditätsposition schwächer ausfällt.
S & P downgraded AFK Sistema ratings to "B +" from "BB-", leaving it on the list for revision
22:04 6 December 2017, Power Grids / Markets
MOSCOW, Dec 6 - PRIME. The international rating agency S & P Global Ratings (S & P) has downgraded the long-term corporate credit ratings in the national and foreign currencies of AFK Sistema AFKSAFKS +1,52% to "B +" from "BB-", leaving them on the list for revision, the agency said.
At the same time, S & P placed the company's rating on the list for the revision of "Developing" (CreditWatch with developing implications) from the list for revision with possible further decrease (CreditWatch with negative implications), it follows from the release.
The ratings were placed on the list for revision on July 18, 2017.
"We believe that Sistema's liquidity may weaken after the announced payment of 110 million dollars in dividends, given the absence of dividend income from the company's shares in MTS MTSSMTSS +0,34% , part of which was arrested in the case of Rosneft's ROSNsuit ROSN -0,34% ," the agency writes.
S & P will withdraw the company's ratings from the list for review, when the results of the trial with Rosneft and their influence on the company will become known. At the same time, the ratings may be downgraded with the weakening of Sistema's liquidity, and raised if the outcome of the dispute does not affect the company's credit ratings, and Sistema will improve its liquidity profile.
On August 23, the Arbitration Court of Bashkiria partially satisfied the lawsuit filed by Rosneft, Bashneft BANEBANE -0,04% and the Republic of Bashkortostan on recovering losses from AFK Sistema and its subsidiaries caused by the Bashkir oil company in 2014. As part of this dispute, the Bashkir arbitration in June, at the petition of the plaintiff, seized Sistema and Sistema-Invest's 31.76% stake in MTS, 100% of Medsi and 90.47% of BESK's shares, banning their disposal. The right of AFK Sistema and Sistema-Invest to obtain income on the seized shares is also limited.
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