Moody's rates MTN Group

Moody's Investors Service said it assigned a global-scale rating of Baa3 and an A3(za) South African national-scale rating to MTN Group Ltd.

The outlook is stable.

Moody's added that its rating on MTN reflects the company's strong position as the number two operator in a maturing South African mobile market and the experience of the company in managing investments in emerging markets, but also the full price paid for Investcom, as well as the increasing expectation for future deleveraging on a stream of dividends and management fees derived from more volatile non-South African operations.

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