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MTN GROUP LIMITED - Downgrade of MTN Group Limited's Credit Ratings

Release Date: 14/06/2017 07:45
Code(s): MTN     PDF:  
Wrap Text
Downgrade of MTN Group Limited's Credit Ratings

MTN Group Limited
(Incorporated in the Republic of South Africa)
Registration Number 1994/009584/06
Share code: MTN
ISIN: ZAE000042164

DOWNGRADE OF MTN GROUP LIMITED’S CREDIT RATINGS

In accordance with paragraph 4.26 of the JSE Debt Listings
Requirements, 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withdrawn MTN Group Limited ’s long-term Baa3 issuer rating.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

For further information contact:

Nik Kershaw, MTN Group Executive for Investor Relations
Tel: +27 11 912 4092    Email:Nik.Kershaw@mtn.com

Johannesburg
14 June 2017

Sponsor

Deutsche Securities (SA) Proprietary Limited

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