Fitch affirms Tele2 Russia

Fitch Ratings said it affirmed Tele2 Russia Holding AB's long-term issuer default rating at BB+ and national long-term rating at AA(rus).

The outlook is stable.

The agency also said it affirmed the company's senior unsecured debt at BB+ and domestic senior unsecured debt at AA(rus). A total RUB 26 billion of bonds were affirmed at BB+ and AA(rus), Fitch added.

The affirmations reflect Tele2R's successful niche mobile player market position and efficient business model both in operational and capital expenditures, Fitch said.

However, Tele2R is disadvantaged compared with its Russian peers in terms of 4G/LTE options, the agency said.

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