OREANDA-NEWS. JSC SITRONICS (LSE: SITR), a leading provider of telecommunications, IT and microelectronic solutions in the emerging markets of Russia and the Commonwealth of Independent States, with growing presence in Central and East Europe, Middle East and Africa, nnounced that Moody’s Investors Service has confirmed the long-term credit rating of SITRONICS in foreign currency at the level "B3", forecast – stable, reported the press-centre of SITRONICS.

Moody’s notes a number of factors facilitating stable growth of the company. The microelectronic business division occupies the lead positions at the Russian market among other national companies, receiving nearly 25 per cent of all revenues in this segment. Transition to production of microelectronics with layout size 0.18 micron will strengthen the company leadership and will allow to produce the products unique for Russia.

Telecommunications business division had been actively involved in alliances with recognized international companies like Cisco, Oracle etc., which allows development and introduction of modern products and services to regional markets. The business division “IT solutions” plays an important role in terms of contracts with state entities and agencies.

Moody’s believes that SITRONICS, in accordance with earlier announced plans, will reduce its capital expenditures in 2008, and will pursue a distant merger and acquisition policy during next 12-18 months. Stable operating profit, implementation of capital investment program, integration of new business processes, as well as growing positive cash flow may have a positive effect on the company rating in the future.

“Moody’s rating is an important instrument of evaluation of our activities at highly competitive technology market both for our investors and partners, as well as ourselves”- says Dmitry Ivanov, First Vice-President and CFO.