The ruble rallied following remarks from President Vladimir Putin that cautiously endorsed the Russian central bank's policy, according to the Wall Street Journal. Putin called the central banks' actions, which included raising its key interest rate to 17%, "on the whole appropriate," though he noted that "some things could have been done more urgently."
The ruble to dollar exchange rate steadied around 61 following the end-of-year news conference.
The Amsterdam-based VimpelCom operates one of the largest mobile networks in Russia. Shares of the company fell during the ruble's recent decline, but recovered as the currency strengthened.
TheStreet Ratings team rates VIMPELCOM LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate VIMPELCOM LTD (VIP) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."