Analytical Credit Rating Agency (ACRA) upgraded PJSC MegaFon’s Russian national credit rating to AAA with a stable outlook. This was reported by the press service of MegaFon.
It was noted that the rating of the bond issues issued by the company was also determined as AAA (RU).
“The upgrade of Megafon’s rating is due to the qualitative increase in addition to the improvement in the business profile of the company in 2022 in its core business segment – mobile communications – due to stronger financial and operational performance compared to its main competitors. assessment of the company’s debt burden,” he says in an ACRA message.
In turn, the Expert RA agency awarded MegaFon PJSC a credit rating of ruAAA on a national scale. Note view is also static.
According to experts of the agency, MegaFon’s strategy of focusing on the development of the telecommunications business allows it to occupy a leading position in the mobile communications market and has a positive effect on the financial condition of the operator, despite external factors.
The agency also believes that MegaFon has increased the number of subscribers due to the growth in the quality of communication, which has made its customer base more stable. At the same time, the financial risks of the company are evaluated at a low level. In addition, the rating assessment was affected by the level of debt burden, profitability indicators and adequate estimated liquidity.
MegaFon Finance Director Denis Fedotov emphasized that the company is actively working to improve business efficiency.
“The company’s main focus is in the telecom segment. Over the past year we have restructured our assets – acquiring telecom-related companies that meet our core objectives and leaving the non-core ones. We see that experts from rating agencies also draw attention to the effectiveness of this approach and that MegaFon evaluates its strong position among competitors and assigns the maximum rating.