MOBILE TELEPHONE NETWORKS HOLDINGS LIMITED - MTNH:MTN Group Limited-Credit Rating Review by Moodys Investors Service (Moodys)

MTNH:MTN Group Limited-Credit Rating Review by Moody’s Investors Service (“Moody’s”)

MOBILE TELEPHONE NETWORKS HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number 1993/001411/06)
(“MTNH”) or (“the Company”)


MTN Group Limited-Credit Rating Review by Moody’s Investors
Service (“Moody’s”)


On September 6, 2018, Moody’s placed MTN Group Limited’s Ba1
corporate family rating (CFR), Ba1-PD probability of default
rating (PDR) and the Aa3.za national scale corporate family
rating on review for downgrade.
All senior unsecured notes issued by MTN (Mauritius) Investments
Limited have also been placed on the Ba1 rating and are also on
review for downgrade.
The rating review follows the recent SENS released by the Issuer
on 30 August 2018 and 4 September 2018, in relation to the
announcements made by the Central Bank of Nigeria (“CBN”) and
Nigerian Attorney General (“NAG”) respectively.

Moody’s review rationale is based on the uncertainty with
regards to these recent announcements and the potential
implications on MTN’s credit profile.

MTN’s management remain resolute that MTN Nigeria has not
committed any offences and will vigorously defend its position.
MTN’s Management will continue to engage with the relevant
authorities on all these matters and will provide further
information as and when available.

10 September 2018
Debt Sponsor: The Standard Bank of South Africa Limited, acting
through its Corporate and Investment Banking division.

Date: 10/09/2018 05:34:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.