MTN (MAURITIUS) INVESTMENTS LIMITED
Incorporated in the Republic of MAURITIUS
Ratings of MTN Group Limited revision by S&P Global Ratings
Notice is hereby given that:
FOLLOWING S&P GLOBAL RATINGS ("S&P") DOWNGRADE OF NIGERIA'S SOVEREIGN RATING to 'B' FROM 'B+', S&P HAS LOWERED MTN GROUP'S CREDIT RATINGS TO 'BB+' AND 'zaA+' WITH A STABLE OUTLOOK
On September 16, 2016, S&P lowered its long-term ratings on Nigeria to 'B' from 'B+' on Weak Growth Dynamics; Outlook Stable. The sovereign downgrade reflects increased risk for MTN Group, as MTN Nigeria is a significant contributor to the Group.
On review of MTN's ratings, S&P lowered the Group's long-term corporate credit rating to 'BB+' from 'BBB-' as well as its South Africa national scale rating to 'zaA+' from 'zaAA', Outlook Stable. S&P also lowered its issuer rating on the Group's existing senior unsecured debt to 'BB+' from 'BBB-', Outlook Stable. S&P maintains a cap of two notches above the blended sovereign rating of Nigeria and South Africa which is currently 'BB-'.
Johannesburg, South Africa
3 October 2016
This announcement has been issued through the Companies Announcement Service of
The Irish Stock Exchange
This information is provided by RNS