Golden Telecom: Moody’s Upgrades Golden Telecom to Ba3
Moody’s Upgrades Golden Telecom to Ba3 MOSCOW — (MARKET WIRE) — November 16, 2006 — Golden Telecom, Inc. (”Golden Telecom” or the”Company”) (NASDAQ: GLDN), a leading facilities-based provider ofintegrated telecommunications and Internet services in major populationcenters throughout
Russia and other countries of the Commonwealth ofIndependent States (”CIS”), announces that Moody’s Investors Service hasupgraded the corporate rating of Golden Telecom from B2 to Ba3, with astable outlook.
Jean-Pierre Vandromme, Chief Executive Officer of Golden Telecom, said,”The new rating reflects the strong financial position of Golden Telecomand confirms our position as one of the leading telecom services providersin Russia and the CIS. Our strategy of expansion both into new marketsegments and regions allows us to grow rapidly and profitably. We work withleading financial institutions to create additional value for ourshareholders.”
About Golden Telecom (www.goldentelecom.com):
Golden Telecom, Inc. (NASDAQ: GLDN) is a leading facilities-based providerof integrated telecommunications and Internet services in major populationcenters throughout Russia and other countries of the CIS. The Companyoffers voice, data and Internet services to corporations, operators andconsumers using its metropolitan overlay network in major cities includingMoscow, Kiev, St. Petersburg, Nizhny Novgorod, Samara, Kaliningrad,Krasnoyarsk, Almaty, and Tashkent, and via leased channels and intercityfiber-optic and satellite-based networks, including approximately 287combined access points in Russia and other countries of the CIS. TheCompany offers mobile services in Kiev and Odessa.
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