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Rating Action by S&P Global Ratings
Mobile Telephone Networks Holdings Limited
Registration number 1993/001411/06
Instrument Code: MTN04 ISIN: ZAG000078619
Dated: 12 April 2017
Rating Agency: S&P
FOLLOWING S&P GLOBAL RATINGS (“S&P”) DOWNGRADE OF SOUTH AFRICA’S
LONG-TERM FOREIGN CURRENCY SOVEREIGN RATING, S&P HAS REVISED MTN
GROUP LIMITED (“MTN GROUP”) AND SUBSIDIARY MOBILE TELEPHONE NETWORKS
HOLDINGS LIMITED CREDIT RATING OUTLOOK AND ITS SOUTH AFRICAN NATIONAL
SCALE RATING
On April 3 2017, S&P lowered its long-term foreign currency rating on the Republic of South
Africa to 'BB+' from 'BBB-' and maintained a negative outlook.
In accordance with paragraph 4.26 of the JSE Debt Listings Requirements, noteholders are
advised that upon review of MTN Group’s ratings (including subsidiary Mobile Telephone
Networks Holding Limited), S&P affirmed MTN Group’s ‘BB+’ foreign and local currency
long-term corporate credit rating. S&P however revised the rating outlook to Negative from
Stable.
S&P has also revised its South African national scale rating on MTN Group to ‘zaA’ from
‘zaA+’.
For further information contact:
Nik Kershaw, MTN Group Executive for Investor Relations
Tel: +27 11 912 4092 Email: Nik.Kershaw@mtn.com
Debt Sponsor: The Standard Bank of South Africa Limited, acting through its Corporate and
Investment Banking division.
Date: 12/04/2017 04:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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