MOSCOW, Russia - Mobile TeleSystems Public Joint Stock Company ("MTS" or "the Company") (MOEX: MTSS), a digital ecosystem, announces that the rating agency Expert RA has affirmed the Company's ruAAA credit rating with a stable outlook.
Expert RA highlighted several factors that enabled MTS to retain its credit rating:
- Strong market and competitive positioning. MTS remains the leader in the mobile connectivity market and has achieved excellent progress in building its product ecosystem. The number of ecosystem customers as of September 30, 2024 grew by 17.9% year-over-year to 16.8 million.
- High level of liquidity. The Company's operating cash flow combined with its cash reserves and undrawn lines of credit are sufficient to cover interest expenses, upcoming debt repayments, capital expenditures and dividend payments.
- Outstanding corporate governance. The agency noted the high quality of the Company's risk management and strategic planning as well as its exceptional transparency.
In support of the reaffirmation of MTS's rating, Expert RA also noted the Company's strong profit margins and comfortable debt position. The agency previously affirmed MTS's rating on December 7, 2023.
"We hold a leading position in the sector and continue to demonstrate stable growth. We are still developing and modernizing our telecom infrastructure and expanding our range of digital services and ecosystem products, while maintaining sufficient financial resilience in the face of challenges such as the considerable tightening of monetary policy on the part of the Central Bank and limited access to external capital markets. Our consistently strong operating performance together with measures we have taken to improve financial discipline were highly commended by Expert RA and reflected in its reaffirmation of its highest-possible creditworthiness rating," said Alexander Smirnov, Director of the Corporate Finance and Treasury Department at MTS.
The full text of Expert RA's release is available here.
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For further information, please contact in Moscow:
Investor Relations Department
Mobile TeleSystems Public Joint Stock Company
Tel: +7 495 223 2025
E-mail: ir@mts.ru
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Mobile TeleSystems Public Joint Stock Company ("MTS" - MOEX: MTSS) is Russia's ecosystem providing network-native digital services and largest mobile operator. The company offers a full range of solutions for consumers and business customers across wireless and wireline connectivity; over-the-top, linear, and satellite television; digital-first banking and financial services; as well as unified communications, cloud computing and IoT. There are more than 87 million mobile subscribers using MTS services across the company's operations in Russia and Belarus, including more than 82 million subscribers in Russia alone. In addition, MTS has a nationwide network of more than 4,200 owned and franchised retail outlets in Russia, and provides nearly 10.7 million clients with broadband, TV, and/or fixed-line telephone connectivity, over 14 million users - with OTT and pay TV services. The number of ecosystem clients exceeds 16.8 million. MTS's shares are listed on the Moscow Exchange under the ticker MTSS. For more information, please visit the company's Investor Relations website at ir.mts.ru.
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