MOODY’S CONFIRMED COMSTAR BA3 CORPORATE FAMILY RATINGS

/PanARMENIAN.Net/
22.06.2009 17:51 GMT+04:00

/PanARMENIAN.Net/ COMSTAR – United TeleSystems JSC, the largest
integrated telecommunications provider in Moscow and 69 Russian cities,
today announced that Moody’s Investors Service has confirmed its Ba3
corporate family ratings with a stable outlook for Comstar and its
55.73% owned subsidiary, Moscow City Telephone Network (MGTS).

"Moody’s ratings with a stable outlook once again prove that, even
in the current challenging economic environment, Comstar manages to
maintain its strong market position and demonstrate solid financial
results. The ratings attest that we have been following the right
strategy and have a stable platform for continued growth," said Sergey
Pridantsev, President and Chief Executive Officer of Comstar UTS.

Comstar is the major shareholder of K-Telecom, Armenia’s cellular
operator, and Cornet internet provider.