Moody's rates Millicom notes Ba2

Moody's Investors Service said it assigned a Ba2 rating to Millicom International Cellular, SA's proposed issuance of up to $500 million in senior unsecured notes.

Proceeds from the issuance of the notes will be used to refinance existing debt of Millicom African subsidiaries in Chad, DRC, Ghana, Senegal and Tanzania.

The new notes will be pari passu with all other senior and unsecured debt of Millicom and will be due in seven years.

The outlook is stable.

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