Fitch assigns CT Trust, notes BB+

Fitch Ratings said it assigned a first-time rating to CT Trust's long-term foreign-currency and local-currency issuer default ratings of BB+. Additionally, Fitch gave a rating of BB+ to CT Trust's senior unsecured debt.

“The ratings of CT Trust (Comcel) reflect the company's strong market position as the leading mobile provider in Guatemala and its robust financial profile, with low leverage for the rating category. The company's ratings are tempered by its lack of geographical and service revenue diversification, as well as high shareholder returns, which limit any material deleveraging. Comcel's ratings are closely linked to that of its parent, Millicom International Cellular SA given its strong financial and strategic linkage,” Fitch said in a press release.

The outlook is stable.

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