On 19th October 2007 the international rating agency Fitch Ratings increased the international long-term credit rating of JSC North-West Telecom from ? + to ?? - and the national long-term credit rating of JSC North-West Telecom from ? (rus) to ? + (rus), the ratings having been given the "Stable" forecast. The short-term rating of the Company has been confirmed at the B level.   

According to analysts of the rating agency, the increase of the credit rating has been caused by:

• the strengthening of the Company's business positions;
• the highest efficiency of business among Russian peers;
• the increased diversification of business;
• the moderate indebtedness of the Company;

At the same time, the analysts of Fitch Ratings have noted that "gaining money from the sale of the block of shares of JSC Telecominvest will speed up development of broadband access to the Internet and network upgrading, which will without doubt significantly increase the competitive ability of JSC North-West Telecom".

"The increase in the credit rating by another step shows that JSC North-West Telecom has chosen a correct development strategy and that the Company's financial and market indices have been improved all the time. This decision of the trustworthy rating agency will serve as a confirmation of NWT's status as a reliable and stable company for investors and crediting institutions", Chief Executive officer of JSC North-West Telecom Vladimir Akulich noted.