Standard & Poor's demotes VimpelCom

The international rating agency downgraded the Russian telecommunications operator VimpelCommunications long-term credit rating as well as the accompanying liabilities ratings from BB+ to BB. The ratings were also taken off the CreditWatch list, with Negative rating outlook.

The rating agency’s analysts feel that the acquisition of Wind Telecom will increase VimpelCom and VimpelCom Ltd’s liabilities burden considerably, which means this debt load will not meet the BB+ criteria.