Fitch gives Millicom notes BB+

Fitch Ratings said it assigned BB+ local and foreign initial issuer default ratings to Millicom International Cellular, SA and a BB+(exp) rating to MIC Africa BV's $510 million senior notes due 2020.

The outlook is stable.

Fitch said the ratings reflect the company's geographically diversified portfolio, leading market positions in most of its markets, value-added services orientation, expectation of moderate leverage, good liquidity and pre-dividend free cash flow generation.

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