... by sovereign support FFO Adj. Net Leverage above 3.5x MTS BB+/Positive Upgrade of JSFC Sistema Deterioration of corporate governance FFO Adj. Net Leverage above 3.0 Megafon BB+/Stable Lower influence of the key shareholder FFO Adj. Net Leverage above 3.0 Tattelecom BB/Stable Upgrade constrained by the companys size, insufficient diversification and limited access to capital markets FFO Adj. Net Leverage above 2.25 Kazakhtelecom BB/Stable Debt/EBITDA below 1.0 and FFO Adj. Leverage below 1.5; successful mobile segment development Debt/EBITDA above 2.5 or FFO Adj. Leverage above 3.0; growing refinancing risks JSFC Sistema BB-/Positive Net debt (including off balance sheet) to normalised dividends below 2.5 Net debt (including off balance sheet) to normalised dividends above 4.5 Gazprom-Media BB/Negative Net debt/EBITDA stabilising below 1.5; improvement of NTV-Plus performance Net debt/EBITDA above 1.5; significant growth of dividend payments...