MTN Group assigned a stable outlook by Moody's
MTN Group Limited noteholders are hereby advised of the amendment to MTN’s credit rating effective on 13 June 2017.
Moody’s Investors Service (“Moody’s” or “the agency”) has downgraded MTN Group Limited's senior unsecured notes issued by MTN (Mauritius) Investments Limited to Ba1 from Baa3, and has assigned MTN Group Limited a Ba1 corporate family rating (CFR) and a Ba1-PD probability of default rating (PDR) and has withdrawn MTN Group Limited ’s long-term Baa3 issuer rating. A stable outlook was assigned.
This rating action follows the weakening of the South African government’s credit profile, as captured by Moody’s lowering of the South African sovereign rating to Baa3 from Baa2 on 9 June 2017.
For commentary on details ratings taken on MTN Group Limited please refer to the Moody’s press release on their website:https://www.moodys.com/research/Moodys-downgrades-South-Africas-rating-to-Baa3-and-assigns-negative--PR_367769.