S&P assigns Mobile TeleSystems bonds 3

Standard & Poor's said it assigned a recovery rating of 3 on the Russian ruble unsecured bonds, consisting of RUR10 billion due 2013, RUR10 billion due 2015, RUR10 billion due 2018, RUR15 billion due 2014 and RUR15 billion due 2016, issued by Mobile TeleSystems (OJSC) (BB/stable).

The recovery rating indicates the agency's expectation of meaningful recovery in the event of a payment default, S&P said, noting that the issue-level ratings on these unsecured debt instruments remains BB, in line with the BB corporate credit rating on Mobile TeleSystems.

The issue rating on the $400 million bonds due 2010 and $400 million bonds due 2012 issued by Mobile Telesystems Finance SA, guaranteed by Mobile TeleSystems is BB, in line with the corporate credit rating on the company, S&P added.

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