Credit Ratings

Entity  Rating Agency  Rating  Outlook 
VEON Ltd.  Standard & Poor's  BB+ Stable 
Moody's  Ba2 Stable 
Fitch  BB+ Positive 
VEON Holdings Moody's Ba2 Stable 
Fitch BB+ Positive
PJSC VimpleCom  Standard & Poor's  BB+ Stable 
Moody's  Ba2 Stable 
Fitch BB+ positive
GTH Finance  Moody's  Ba2 Stable 
Fitch BB+ Positive
Banglalink Digital Communications Ltd Standard & Poor's  BB- Stable 
Moody's  Ba3 Stable